Adoption in America: Buffett buys power business for nine billion euros

The investment company Berkshire Hathaway of the American Investor Warren Buffett put in the middle of the Corona-crisis-a billion-dollar acquisition. The compa

Adoption in America: Buffett buys power business for nine billion euros

The investment company Berkshire Hathaway of the American Investor Warren Buffett put in the middle of the Corona-crisis-a billion-dollar acquisition. The company had reached agreement with the energy company, Dominion Energy, on the sale of its natural gas pipeline and storage business, said Berkshire Hathaway on Monday. The transaction has a value of approximately 9.7 billion dollars (8.6 billion euros).

About 4 billion dollars is paying Buffett's Berkshire Hathaway Energy bar and also debts in the amount of 5.7 billion dollars, such as Dominion Energy announced. The business includes more 12000 kilometers of gas distribution networks, as well as approximately 25 billion cubic meters of storage capacity.

The sale has to be approved, among other things, from the energy Ministry. He should, in the course of the 4. Quarter of 2020 will be completed. Dominion Energy has 7.5 million electricity and gas customers and, in 18 of the 51 States of America is active.

Updated Date: 07 July 2020, 02:20

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