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Dominion Energy Agrees to Sell Gas Transmission, Storage Assets to Berkshire Hathaway Energy-- Strategic Repositioning Toward 'Pure-Play' State-Regulated, Sustainability-Focused Utility Operations

RICHMOND, Va., July 5, 2020 /PRNewswire/ --A Dominion Energy (NYSE: D) today announced that it has executed a definitive agreement to sell substantially all of its Gas Transmission & Storage segment assets to an affiliate of Berkshire Hathaway Inc. (NYSE: BRK.A) in a transaction valued at $9.7 billion, including the assumption of $5.7 billion of existing indebtedness.
Dominion Energy Agrees to Sell Gas Transmission, Storage Assets to Berkshire Hathaway Energy-- Strategic Repositioning Toward 'Pure-Play' State-Regulated, Sustainability-Focused Utility Operations
Thomas F. Farrell, II, Dominion Energy chairman, president, and chief executive officer, said: "Today's announcement further reflects Dominion Energy's focus on its premier state-regulated, sustainability-focused utilities that operate in some of the most attractive regions in the country."Over the past several years the company has taken a series of steps a?? including mergers with Questar Corporation and SCANA Corporation, and the divestiture of Blue Racer Midstream and merchant generation assets a?? to increase materially the state-regulated nature of our profile, enhance the customer experience, strengthen our balance sheet, and improve transparency and predictability. Our mission over that period has remained the same: providing round-the-clock affordable and sustainable energy, world-class customer service, and meaningful community engagement.
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