Dominion Energy Closes Pipeline Sale

Oil & Gas

Dominion Energy Inc. closed the sale of Questar Pipelines to Southwest Gas Holdings Inc., a deal that spurred criticism and a takeover attempt from activist investor Carl Icahn.

Southwest bought Questar and its transportation and storage assets in Utah, Wyoming and Colorado in a transaction valued at $1.975 billion including $430 million of debt, according to a statement Friday. 

Icahn blasted the Questar sale and Southwest executives for “poor governance” and “egregious errors” after the deal was announced in October. He sought to replace Southwest’s board and buy the remaining stock he doesn’t already own but the company opposed the proposals. 

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