Canadian pipeline operator Enbridge Inc. agreed to buy three utilities from Dominion Energy Inc. in a US$9.4 billion deal to create North America’s largest natural gas provider.
The acquisition of the East Ohio Gas Co., Questar Gas Co. and Public Service Co. of North Carolina will double the Calgary-based company’s gas utility business, Enbridge said in a statement Tuesday.
The move comes as Enbridge, North America’s largest pipeline company, is pushing to position itself for the transition toward cleaner energy. The three companies it’s buying serve customers in Ohio, Utah, Wyoming and North Carolina, where revenue from utility bills is forecast to grow faster than the national average.
Enbridge shares fell 6.2 per cent as of 9:09 p.m. in after-hours trading in New York while Dominion was 0.3 per cent lower. To help finance the transaction, Enbridge said separately that it plans to raise C$4 billion in a share sale underwritten by a group of institutions led by RBC Capital Markets and Morgan Stanley.
The deal with Enbridge comes nearly two months after the Richmond, Virginia-based Dominion agreed to sell a US$3.3 billion stake in a Maryland liquefied natural gas export project to Berkshire Hathaway Energy.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Enbridge stock falls on US$14B deal to double gas utility businessThe deal would see the Canadian pipeline operator double the size of its gas utility business.
Lire la suite »
Enbridge to buy three dominion utilities for US$14 billionPipeline operator Enbridge Inc. agreed to buy three natural gas utilities from Dominion Energy Inc. for US$14 billion.
Lire la suite »
Enbridge Bets Big on US Gas With $9.4 Billion Dominion Deal(Bloomberg) -- Canadian pipeline operator Enbridge Inc. agreed to buy three utilities from Dominion Energy Inc. in a $9.4 billion deal to create North America’s largest natural gas provider.Most Read from BloombergIndia’s Moment Has Arrived, and Modi Wants a New Global OrderChina Slowdown Means It May Never Overtake US Economy, Forecast ShowsHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsReturn-to-Office Is a $1.3 Trillion Problem Few Have Figured OutBillion-Dollar Corporate Bond
Lire la suite »
Enbridge to purchase 3 U.S. utilities for $14 billion in cash and debtEnbridge Inc. has signed a $14 billion cash\u002Dand\u002Ddebt deal to purchase 3 US\u002Dbased utility companies owned by Dominion Energy, Inc. Read more.
Lire la suite »
Enbridge to purchase 3 U.S. utilities for $14 billion in cash and debtEnbridge Inc. has signed a $14 billion cash\u002Dand\u002Ddebt deal to purchase 3 US\u002Dbased utility companies owned by Dominion Energy, Inc. Read more.
Lire la suite »
Enbridge to purchase three U.S. utilities for $14 billion in cash and debtEnbridge Inc. says it has signed a US$14 billion cash-and-debt deal to purchase three U.S.-based utility companies.
Lire la suite »