Dominion Energy Closes Pipeline Sale
Dominion Energy Inc. closed the sale of Questar Pipelines to Southwest Gas Holdings Inc., a deal that spurred criticism and a takeover attempt from activist investor Carl Icahn.
Southwest bought Questar and its transportation and storage assets in Utah, Wyoming and Colorado in a transaction valued at $1.975 billion including $430 million of debt, according to a statement Friday.
Icahn blasted the Questar sale and Southwest executives for “poor governance” and “egregious errors” after the deal was announced in October. He sought to replace Southwest’s board and buy the remaining stock he doesn’t already own but the company opposed the proposals.
What do you think? We’d love to hear from you, join the conversation on the
Rigzone Energy Network.
The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.