Dominion Energy on Tuesday announced plans to sell several of its natural gas-distribution companies to Enbridge for $9.4 billion as it focuses on investing in renewable energy and improving the electric grid.
Enbridge, a Calgary, Alberta-based pipeline operator, has agreed to pay $9.4 billion in cash and assume $4.6 billion in debt to acquire the gas-distribution companies, which operate pipeline networks in Ohio, North Carolina and parts of the Western U.S.
The Wall Street Journal earlier reported that Dominion was considering a sale of the companies.
Read the full story on The Wall Street Journal here.