{"id":57965,"date":"2023-09-07T06:14:04","date_gmt":"2023-09-07T10:14:04","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/enbridge-to-pay-14b-to-dominion-energy-for-3-utilities-key-aspects-of-the-deal\/"},"modified":"2023-09-07T06:14:06","modified_gmt":"2023-09-07T10:14:06","slug":"enbridge-to-pay-14b-to-dominion-energy-for-3-utilities-key-aspects-of-the-deal","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=57965","title":{"rendered":"Enbridge to pay $14B to Dominion Energy for 3 utilities, key aspects of the deal"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">\u00a9 Reuters. Enbridge (ENB) to pay $14B to Dominion Energy (D) for 3 utilities, key aspects of the deal<\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p><span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Enbridge Inc. <\/span><\/span> (NYSE:) is set to acquire EOG, Questar, and PSNC from Dominion Energy, Inc. (NYSE:) for a total purchase price of $14.0 billion (CDN$19B), including $9.4B in cash and $4.6B in assumed debt. Here are key things to know:<\/p>\n<ul>\n<li>The acquisitions will expand Enbridge&#8217;s presence in the U.S. utility sector, adding gas utility operations in Ohio, North Carolina, Utah, Idaho, and Wyoming.<\/li>\n<li>Following the acquisitions, Enbridge&#8217;s gas utility business will become the largest in North America, serving approximately 7 million customers with a combined rate base of over CDN$27B.<\/li>\n<li>The purchase price for the acquisitions is estimated at ~1.3x Enterprise Value-to-Rate Base (based on 2024 estimates) and ~16.5x Price-to-Earnings (based on 2023 estimates).<\/li>\n<li>The acquisitions are expected to be accretive to Enbridge&#8217;s financial DCFPS and adjusted EPS outlook in the first full year of ownership.<\/li>\n<li>Dominion sees total estimated after-tax proceeds of $8.7B; will be used to reduce parent debt, along with the conveyance of $4.6B of operating company debt, improving the company&#8217;s consolidated FFO to debt by approximately 3.4%.<\/li>\n<li>Enbridge&#8217;s CAD $4B equity offering aims to address common equity issuance needs for financing the transaction, ensuring flexibility to balance financing sources as required.<\/li>\n<li>Debt financing commitments totaling $9.4B have been secured from Morgan Stanley and Royal Bank of Canada to support the cash consideration component of the acquisitions.<\/li>\n<li>The transactions are expected to close in 2024, subject to regulatory approvals, including clearance from the Federal Trade Commission and state public utility commissions.<\/li>\n<\/ul>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/enbridge-to-pay-14b-to-dominion-energy-for-3-utilities-key-aspects-of-the-deal-432SI-3167974\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. Enbridge (ENB) to pay $14B to Dominion Energy (D) for 3 utilities, key aspects of the deal Enbridge Inc. (NYSE:) is set to acquire EOG, Questar, and PSNC from Dominion Energy, Inc. (NYSE:) for a total purchase price of $14.0 billion (CDN$19B), including $9.4B in cash and $4.6B in assumed debt. Here are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-57965","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Enbridge to pay $14B to Dominion Energy for 3 utilities, key aspects of the deal | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Enbridge (ENB) to pay $14B to Dominion Energy (D) for 3 utilities, key aspects of the deal Enbridge Inc. (NYSE:) is set to acquire EOG,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=57965\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enbridge to pay $14B to Dominion Energy for 3 utilities, key aspects of the deal | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. Enbridge (ENB) to pay $14B to Dominion Energy (D) for 3 utilities, key aspects of the deal Enbridge Inc. 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