Dominion Midstream Partners LPNYSE
Thu, Dec. 1, 4:51 PM
- Consideration for the $1.725B deal included $823M in cash to Dominion Resources (NYSE:D), $167M of common units, and $300M of convertible preferred units. Dominion Midstream (NYSE:DM) also assumed Questar Pipeline's $435M in debt.
- The deal is expected to be immediately accretive to DM's distributable cash flow per unit.
- Dominion will use the cash and other money from related financing activities to pay down $1.2B of debt at the parent level.
Mon, Oct. 31, 7:36 AM
- Dominion Midstream (NYSE:DM) agrees to acquire Questar Pipeline from Dominion Resources (NYSE:D) for ~$1.725B, including debt.
- DM says the dropdown deal will more than double its existing adjusted EBITDA, be immediately accretive to distributable cash flow, and support its plan to grow distributions to unitholders at a 22% compounded annual growth rate.
- Questar Pipeline owns and operates FERC-regulated natural gas transmission and storage assets in Colorado, Utah and Wyoming.
- To help fund the deal, DM launches a 12M-unit public offering, with an underwriters option to purchase up to an additional 1.8M common units.
Apr. 1, 2015, 8:16 AM
- Dominion Midstream Partners (NYSE:DM) agrees to acquire Dominion Carolina Gas Transmission from Dominion Resources (NYSE:D) for ~$495M.
- DM says the deal supports its intention to grow distributions to unitholders at a compounded annual growth rate of ~22%/year through the end of the decade.
- DM expects the addition to be immediately accretive to its distributed cash flow per unit.