Berkshire Hathaway acquired Dominion Energy natural gas transmission & storage business (via Berkshire Hathaway Energy) for Approximately $9.7 billion including assumed debt (~$2.5 billion net cost for the November 2020 closing), a transaction completed in November 2020, structured as combination (cash plus assumed debt). The deal was a Carve-out.
Dominion Energy natural gas transmission & storage business (via Berkshire Hathaway Energy) operates in Energy / natural gas infrastructure. Berkshire Hathaway Energy agreed in July 2020 to buy substantially all of Dominion Energy's natural gas transmission and storage business. The portion completed on November 1, 2020 included more than 5,400 miles of pipelines, about 420 billion cubic feet of storage capacity, and a partial stake in the Cove Point LNG facility; assets acquired totaled about $13.4 billion with net cost of roughly $2.5 billion after assuming debt and noncontrolling interests. A second agreement covered certain excluded pipeline assets for about $1.3 billion, subject to regulatory approval.
Regulated, long-lived energy infrastructure complementing Berkshire Hathaway Energy.
The acquisition of the Dominion businesses... was completed on November 1, 2020 and included more than 5,400 miles of natural gas transmission, gathering and storage pipelines, about 420 billion cubic feet of operated natural gas storage capacity and partial ownership of a liquefied natural gas export, import and storage facility (Cove Point).Berkshire Hathaway FY2020 10-K, Business Acquisitions note
Advisory firms were not disclosed for this transaction.