Energy
Dominion Energy Inc to buy troubled Scana Corp in $7.9 billion deal
After scrapping its $9b nuclear project, South Carolina’s Scana has been under heavy pressure to sell. Virginia’s Dominion Energy Corp announced Wednesday it would offer the troubled Scana a way out, putting $7.9b on the table. Dominion announced it would take on Scana’s debt, some $6.7b, effectively making the deal worth close to $15b. Dominion…
After scrapping its $9b nuclear project, South Carolina’s Scana has been under heavy pressure to sell. Virginia’s Dominion Energy Corp announced Wednesday it would offer the troubled Scana a way out, putting $7.9b on the table. Dominion announced it would take on Scana’s debt, some $6.7b, effectively making the deal worth close to $15b. Dominion shares dipped 4% Wednesday morning, though both companies are moving ahead and expect the deal to close this year.
