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Dominion Energy logoDominion Energy D

The company said it completed the disposition of Dominion Energy Questar Corporation and East Ohio Gas Company (d/b/a Dominion Energy Ohio) and related entities on March 6, 2024.

8-KCompletion of Acquisition or Disposition of AssetsFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said it completed the disposition of Dominion Energy Questar Corporation and East Ohio Gas Company (d/b/a Dominion Energy Ohio) and related entities on March 6, 2024.

  2. The company said it sold all outstanding shares of Questar to Enbridge Elephant Holdings, LLC, a wholly owned subsidiary of Enbridge Inc., under the Purchase and Sale Agreement on September 5, 2023.

  3. Dominion Energy said the purchaser at closing paid approximately $4.3 billion in cash (subject to post-closing adjustments) and assumed about $2.3 billion of related long-term debt, bringing the total value of the transaction to $6.6 billion.

  4. The company said East Ohio provides regulated natural gas sales, transportation, gathering, storage and distribution services in Ohio to approximately 1.2 million residential customers. It also said that, because it had already reported the disposed business as discontinued operations in its 2023 10-K, it is not filing pro forma financial information.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Dominion Energy Completes Disposition of Questar

The company said it completed the disposition of Dominion Energy Questar Corporation and East Ohio Gas Company (d/b/a Dominion Energy Ohio) and related entities on March 6, 2024.

Source · Based on the filing body and exhibits

Purchaser and Purchase Agreement

The company said it sold all outstanding shares of Questar to Enbridge Elephant Holdings, LLC, a wholly owned subsidiary of Enbridge Inc., under the Purchase and Sale Agreement on September 5, 2023.

Source · Based on the filing body and exhibits

Transaction Consideration and Debt Assumption

Dominion Energy said the purchaser at closing paid approximately $4.3 billion in cash (subject to post-closing adjustments) and assumed about $2.3 billion of related long-term debt, bringing the total value of the transaction to $6.6 billion.

Source · Based on the filing body and exhibits

East Ohio Operations and No Pro Forma Filing

The company said East Ohio provides regulated natural gas sales, transportation, gathering, storage and distribution services in Ohio to approximately 1.2 million residential customers. It also said that, because it had already reported the disposed business as discontinued operations in its 2023 10-K, it is not filing pro forma financial information.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.