Con Edison subsidiary agrees to sell 6.6% interest in Mountain Valley Pipeline for $357.5 million

CONSOLIDATED EDISON INC

Con Edison subsidiary entered a purchase and sale agreement to sell its ~6.6% stake in Mountain Valley Pipeline, LLC to an Ares Management fund.
The base purchase price is $357.5 million, subject to adjustments for taxes, performance assurances, distributions, and capital contributions.
Transaction expected to close in first half of 2026, subject to customary conditions and potential preferential rights of MVP founding members.
Proceeds will partially offset Con Edison's 2026 common equity needs and be used for general corporate purposes.

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