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Warren Buffett’s Berkshire buys Dominion Energy natural gas assets in $10 billion deal

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Warren Buffett‘s Berkshire Hathaway is finally pulling the trigger.

The conglomerate is spending $4 billion to buy the natural gas transmission and storage assets of Dominion Energy. Including the assumption of debt, the deal totals almost $10 billion. It’s the first major purchase from Berkshire since the coronavirus pandemic and subsequent market collapse in March.

At his annual shareholder meeting in May, Buffett revealed that Berkshire had built up a record $137 billion cash hoard as the financial market tanked, and that he hadn’t seen many favorable deals, despite the stock market’s deep swoon.

“We have not done anything because we don’t see anything that attractive to do,” Buffett…



Source cnbc.com

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