Status: Clearance
Acquirer: Enbridge Inc. (Canada)
Acquired: Three gas utility businesses of Dominion Energy (U.S.)
Value: $14 billion
Industry Tags: Regulated Utilities; Energy; Oil & Gas
UPDATE: On January 11, 2024 Enbridge and Dominion received final clearance, without any required mitigation or condition, from the Committee on Foreign Investment in the United States for the [gas utilities acquisitions announced on September 5, 2023].” (Press Release, Enbridge Inc. Form 8-K, Ex-99.1, Feb. 9, 2024, SEC Filing.)
Posted on September 12, 2023
Status: Upcoming/ New Filing
On September 5, 2023, subsidiaries of Enbridge Inc., a Canadian publicly traded corporation (TSX: ENB) (NYSE: ENB), entered into three separate purchase and sale agreements with Dominion Energy, Inc., a Virginia corporation, “to acquire The East Ohio Gas Company (‘EOG’), Questar Gas Company (‘Questar Gas’), and its related Wexpro companies (‘Wexpro’ and collectively with Questar Gas, ‘Questar’), and Public Service Company of North Carolina, Incorporated (‘PSNC’) (collectively the ‘Gas utilities’) for an aggregate purchase price of US$14.0 billion (CDN$19 billion1) . . .” (Press Release, Enbridge Inc. Form 8-K, Ex-99.1, Sept. 5, 2023, SEC Filing.) “The Acquisitions are expected to close in 2024, subject to the satisfaction of customary closing conditions, including . . . . approval from the Committee on Foreign Investment in the United States . . .” (Id.)
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