Southwest Gas To Buy Questar Pipeline From Dominion Energy For $1.545 Bln Cash

(RTTNews) - Southwest Gas Holdings, Inc. (SWX), a provider of natural gas service in the U.S., on Wednesday announced that it has entered into a definitive deal to acquire Dominion Energy Questar Pipeline, LLC, its subsidiaries and certain associated affiliates, including Overthrust Pipeline, White River Hub and Questar Field Services from Dominion Energy, Inc. (D) for $1.545 billion in cash.

In addition, Southwest will also assume $430 million of Questar Pipelines' debt, Southwest Gas said in a statement.

The transaction which is expected to close on or about December 31 is expected to add to Southwest Gas's earnings in 2022. Following the close of the transaction, Questar Pipelines will operate as a standalone subsidiary of Southwest Gas Holdings.

John P. Hester, Southwest Gas Holdings' President and CEO, commented: "The acquisition of Questar Pipelines is a milestone moment for the company that we believe will provide significant financial and strategic benefits to our company, shareholders, employees and partners, as we continue to significantly increase our role in the transitioning energy landscape."