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Dominion Drops Down Questar Pipeline to Midstream Subsidiary

Dominion Midstream Partners Lp Dominion Resources, Inc.
AnnouncedOct 31, 2016
TypeAsset
Announced Date
October 31,2016
Close Date
December 02,2016
Transaction Type
Asset




Snapshot
Location
Region
Rockies

Country
United States

State
Utah


Transaction Details:  Require Private Equity Subscription

Closing Announcement - December 2, 2016

Dominion Midstream Partners has closed on the transaction to acquire Questar Pipeline, LLC, from Dominion Resources for $1.725 billion. As part of the transaction, Dominion Midstream paid $823 million in cash to Dominion, issued $167 million of common units and $300 million of convertible preferred units to Dominion, and has assumed Questar Pipeline's $435 million of outstanding indebtedness.

Cash sources included a previously announced $360 million underwritten public common unit offering, a $137.5 million private placement of common units, and $500…

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