BERKSHIRE HATHAWAY ENERGY CO: M&A transaction — Berkshire Hathaway Energy completes $3.35B acquisition of additional 50% stake in Cove Point LNG

BERKSHIRE HATHAWAY ENERGY CO

Total consideration ~$3.35B: $3.3B cash plus ~$50M pro rata distribution.
BHE now owns 75% of limited partnership interests; Brookfield holds remaining 25%.
Transaction closed Sept 1, 2023; funded with cash on hand from BHE.
BHE GT&S continues as operator of Cove Point LNG terminal in Lusby, MD.
Because EEGH already controlled Cove Point, accounted for as equity transaction; no gain/loss recognized.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BERKSHIRE HATHAWAY ENERGY CO completed an acquisition involving DECP Holdings, Inc. (the Seller), an indirect wholly owned subsidiary of Dominion Energy, Inc. for approximately $3.3 billion in cash, plus the pro rata portion of the quarterly distribution to be made by Cove Point for the fiscal quarter in which the Transac (closed 2023-09-01).

Action: acquisition
Counterparty: DECP Holdings, Inc. (the Seller), an indirect wholly owned subsidiary of Dominion Energy, Inc.
Consideration: approximately $3.3 billion in cash, plus the pro rata portion of the quarterly distribution to be made by Cove Point for the fiscal quarter in which the Transac
Closing: 2023-09-01

Exact text from the filing

Under the terms of the Purchase and Sale Agreement (the “Purchase Agreement”), dated as of July 9, 2023, among the Buyer, BHE, the Seller and DEI, the Buyer paid approximately $3.3 billion in cash, plus the pro rata portion of the quarterly distribution to be made by Cove Point for the fiscal quarter in which the Transaction closed, which we have estimated to be

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Source: SEC EDGAR

accession 0001193125-23-227676

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