Summary
Dominion Energy, Inc. (D) has announced the completion of a significant divestiture, selling its wholly owned intermediate holding company, Dominion Energy Questar Corporation, along with its related pipeline entities, to Southwest Gas Holdings, Inc. This transaction, which closed on December 31, 2021, generated approximately $1.545 billion in cash proceeds, subject to customary adjustments. Additionally, Dominion Energy will see a reduction in its long-term debt by approximately $430 million as Southwest Gas assumed this debt as part of the deal. This strategic move signals Dominion's ongoing efforts to refine its business portfolio and focus on core assets.
Key Highlights
- 1Divestiture of Dominion Energy Questar Corporation and related pipeline entities completed.
- 2Sale price of approximately $1.545 billion in cash proceeds (subject to adjustments).
- 3Assumption of approximately $430 million in existing long-term debt by the buyer.
- 4Transaction closed effectively on December 31, 2021.
- 5This divestiture is a key step in Dominion Energy's portfolio optimization strategy.