Dominion Agrees To Acquire Carolina Gas Transmission
Submitted by aburr on Thu, 2014-12-18 12:56Dominion Resources agreed to purchase Carolina Gas Transmission (CGT) from SCANA Corporation for approximately $492.9 million. The company plans to close on the acquisition in January 2015. The transaction would include no assumption of debt and, upon closing, would be immediately accretive to Dominion's operating earnings per share. Subject to board approvals by Dominion and Dominion Midstream Partners, Dominion expects to contribute CGT into Dominion Midstream for a combination of debt and units by mid-year 2015.