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Healthcare

BRIEF-Dominion Energy Says Co To Sell Gas Transmission, Storage Assets To Berkshire Hathaway Energy

July 5 (Reuters) - Dominion Energy Inc:

* PRESS RELEASE - DOMINION ENERGY AGREES TO SELL GAS TRANSMISSION, STORAGE ASSETS TO BERKSHIRE HATHAWAY ENERGY-- STRATEGIC REPOSITIONING TOWARD ‘PURE-PLAY’ STATE-REGULATED, SUSTAINABILITY-FOCUSED UTILITY OPERATIONS

* ALL-CASH TRANSACTION VALUED AT NEARLY $10 BILLION, INCLUDING ASSUMPTION OF DEBT

* DIVESTITURE EXPECTED TO CLOSE IN FOURTH QUARTER OF 2020

* CASH PROCEEDS EXPECTED TO BE USED TO REPURCHASE SHARES

* COMPANY’S INTEREST IN ATLANTIC COAST PIPELINE IS NOT INCLUDED IN TRANSACTION

* COMPANY NOW EXPECTS 2020 OPERATING EARNINGS OF $3.37 TO $3.63 PER SHARE

* EXPECTS 2021 OPERATING EARNINGS PER SHARE TO GROW AROUND 10 TO 11 PERCENT OVER 2020

* COMPANY NOW EXPECTS TO TARGET AN APPROXIMATELY 65 PERCENT PAYOUT RATIO TO BE EFFECTIVE UPON COMPLETION OF TRANSACTION Source text for Eikon: Further company coverage:

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