M&A Deal Summary

Berkshire Hathaway Acquires Dominion Energy - Gas Transmission & Storage Segment Assets

On July 5, 2020, Berkshire Hathaway acquired oil/gas exploration company Dominion Energy - Gas Transmission & Storage Segment Assets from Dominion Energy for 9.7B USD

Acquisition Highlights
  • This is Berkshire Hathaway’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Berkshire Hathaway’s 9th largest (disclosed) transaction.
  • This is Berkshire Hathaway’s 63rd transaction in the United States.
  • This is Berkshire Hathaway’s 1st transaction in Virginia.

M&A Deal Summary

Date 2020-07-05
Target Dominion Energy - Gas Transmission & Storage Segment Assets
Sector Oil/Gas Exploration
Buyer(s) Berkshire Hathaway
Sellers(s) Dominion Energy
Deal Type Divestiture
Deal Value 9.7B USD

Target

Dominion Energy - Gas Transmission & Storage Segment Assets

Richmond, Virginia, United States
Dominion Energy, Inc.'s Gas Transmission & Storage segment assets include more than 7,700 miles of natural gas storage and transmission pipelines and about 900 billion cubic feet of gas storage.

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Buyer(S) 1

Buyer

Berkshire Hathaway

Omaha, Nebraska, United States

website


Category Company
Founded 1998
Sector Diversified
Employees360,000
Revenue 234.2B USD (2022)
DESCRIPTION
Berkshire Hathaway's corporate headquarters in Omaha, Nebraska.
Berkshire Hathaway's corporate headquarters in Omaha, Nebraska.

Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Berkshire Hathaway was founded in 1998 and is based in Omaha, Nebraska.


DEAL STATS #
Overall 68 of 69
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 9 of 9
State (Virginia) 1 of 1
Country (United States) 63 of 64
Year (2020) 1 of 1
Size (of disclosed) 9 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-28 Paytm

Noida, India

Paytm is a Mobile Value Added Service company through its mobile content, messaging, commerce services, and made-to-order network applications, it offers new revenue streams to telecom operators. Working closely with service providers and enterprises, the company offers customer lifecycle management and mobile marketing to enhance profitability. Paytm is based in Noida, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-22 The Kirby

Cleveland, Ohio, United States

The Kirby Co. is a manufacturer of home cleaning systems and related accessories. The Kirby Co. was founded in 1906 and is based in Cleveland, Ohio.

Sell -

Seller(S) 1

SELLER

Dominion Energy

Richmond, Virginia, United States

website


Category Company
Founded 1983
Sector Utilities
Employees17,200
Revenue 17.2B USD (2022)
DESCRIPTION
Dominion's corporate headquarters in downtown Richmond, Virginia.
Dominion's corporate headquarters in downtown Richmond, Virginia.

Dominion Energy is a producer and transporter of energy, with a portfolio of approximately 25,700 megawatts of electric generation, 15,000 miles of natural gas transmission, gathering, storage, and distribution pipeline, and 6,600 miles of electric transmission and distribution lines. Dominion Energy was founded in 1983 and is based in Richmond, Virginia.


DEAL STATS #
Overall 9 of 11
Sector (Oil/Gas Exploration) 4 of 5
Type (Divestiture) 9 of 11
State (Virginia) 1 of 1
Country (United States) 9 of 11
Year (2020) 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 SCANA

Cayce, South Carolina, United States

SCANA Corporation is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. The Company serves approximately 675,000 electric customers in South Carolina and more than 1.2 million natural gas customers in South Carolina, North Carolina and Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-17 Cypress Creek Renewables - Central Virginia Solar Project

Santa Monica, California, United States

Cypress Creek Renewables, LLC - Central Virginia Solar Project is a 62.5-megawatt (AC) Madison Solar generating facility.

Buy -