Dominion Energy said Oct. 5 it would sell its Questar Pipelines unit to Southwest Gas Holdings Inc. in a nearly $2 billion deal that includes the assumption of $430 million in debt. The deal follows the collapse of the sale in 2020 of Questar to Berkshire Hathaway, and it drew scathing criticism from Carl Icahn, who owns a stake Southwest Gas.
In July, Dominion was forced to terminate its deal to sell Questar to Berkshire Hathaway Energy because approval from the Federal Trade Commission was in doubt. The uncertainty stemmed from provisions in the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Berkshire Hathaway agreed to buy Questar in July 2020 as part of a $10 billion purchase of Dominion’s natural gas and storage assets. The transaction followed Dominion’s decision to cancel its Atlantic Coast Pipeline, an $8 billion project that would have moved natural gas from West Virginia to points in Virginia and North Carolina.