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New Deal


Announced

Enbridge to acquire EOG, Questar Gas and PSNC from Dominion Energy for $14bn.

Financials

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Transaction Value£11,091m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales24.8x
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Cross Border

Single Bidder

Private

Acquisition

Majority

Friendly

natural gas distribution

Gas Distribution

United States

Pending

Synopsis

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Enbridge, a multinational pipeline and energy company, offered to acquire East Ohio Gas, Questar Gas and Public Service Co. of North Carolina, three natural gas distribution companies, from Dominion Energy, a power and energy company, for $14bn. "The addition of a strong Ohio-based gas utility company is a great strategic fit for Enbridge. It further diversifies our business and enhances the stable cash flow profile of our assets. With this acquisition, Enbridge has all four of its business units represented in Ohio, providing further value-add opportunities. We welcome EOG and its employees into the Enbridge family of companies and look forward to building long-term productive relationships with all stakeholders in Ohio and continuing to offer Ohio customers the same safe, reliable service they are accustomed to," Michele Harradence, Enbridge Executive Vice President and President. Enbridge, a multinational pipeline and energy company, completed the acquisition of East Ohio Gas, a natural gas distribution company, from Dominion Energy, a power and energy company, for $6.6bn.

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