BusinessDominion Electrical energy sells its Questar Pipelines enterprise for...

Dominion Electrical energy sells its Questar Pipelines enterprise for $1.975 billion | Small enterprise Info


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Dominion Power’s enterprise model.

Dominion Power Inc. has purchased its Questar Pipelines firm on the Wyoming-Utah border to Southwest Fuel Holdings Inc.

The supply, declared in early October, is valued at $1.975 billion, together with the idea of $430 million of present bank card debt. The sale was completed on Friday.

Promoting the pipeline small enterprise permits Dominion to concentrate on its utility prospects and its clean-strength portfolio, these as picture voltaic farms and the progress of an offshore wind farm, the enterprise has said.

Richmond-dependent Dominion Energy skilled purchased Questar Pipelines in late 2016 in a supply valued at $1.725 billion, which incorporates $823 million in arduous money and assumption of $435 million in bank card debt.

Questar owns and operates 1,888 miles of Federal Energy Regulatory Fee-controlled pure gasoline transmission and storage belongings in Utah, Wyoming and Colorado.

Southwest Gasoline is a gasoline distribution enterprise that serves Arizona, California and Nevada.

The sale to Southwest Fuel comes six months proper after Dominion Electrical energy and Berkshire Hathaway Energy, a tool of Berkshire Hathaway Inc., declared that each of these organizations skilled agreed to terminate a ready sale of the Questar Pipelines enterprise enterprise because of the reality of uncertainty in receiving regulatory approval.

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