The $9.7B all-cash deal has Dominion Energy (NYSE:D) selling nearly all of its Gas Transmission & Storage segment assets to Berkshire Hathaway (BRK.A, BRK.B).

That includes more than 7,700 miles of natural gas storage and transmission pipelines and about 900 billion cubic feet of gas storage that Dominion currently operates.

Proceeds will be about $3B as the deal includes the assumption of $5.7B in debt and there's some taxes to pay. That amount will be used by Dominion to buy back shares.

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