DOMINION ENERGY, INC (D): M&A transaction — Dominion Energy closes sale of PSNC gas utility to Enbridge for $2.0B cash + $1.2B debt

DOMINION ENERGY, INC

Enbridge paid ~$2.0B cash and assumed ~$1.2B debt for PSNC, a North Carolina gas utility.
Transaction closed Sept 30, 2024; previously announced Sept 5, 2023.
PSNC serves residential, commercial, and industrial gas customers in North Carolina.
No pro forma financials required as PSNC was reported as discontinued operations in 10-K.

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

DOMINION ENERGY, INC completed a disposition involving Enbridge Parrot Holdings, LLC for approximately $2.0 billion in cash and assumed approximately $1.2 billion of indebtedness (closed 2024-09-30).

Action: disposition
Counterparty: Enbridge Parrot Holdings, LLC
Consideration: approximately $2.0 billion in cash and assumed approximately $1.2 billion of indebtedness
Closing: 2024-09-30

Exact text from the filing

the terms of the purchase and sale agreement, dated as of September 5, 2023, by and between Dominion Energy and Enbridge. At closing, Enbridge paid Dominion Energy approximately $2.0 billion in cash and assumed approximately $1.2 billion of indebtedness. PSNC is a public utility primarily engaged in the purchase, sale, transportation and distribution of natural gas

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Source: SEC EDGAR

accession 0001193125-24-230182

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