Dominion Midstream Acquires Dominion Carolina Gas Transmission - Quick Facts

(RTTNews) - Dominion Midstream Partners, LP (DM) announced it has acquired Dominion Carolina Gas Transmission, LLC, from Dominion Resources, Inc. (D), for approximately $495 million. The addition of Dominion Carolina Gas Transmission is expected to be immediately accretive to Dominion Midstream's distributed cash flow per unit.

Dominion Midstream is issuing approximately $200 million of limited partnership units to Dominion and has entered into a two-year note with Dominion for the remaining $295 million in transaction consideration. Dominion Carolina Gas Transmission owns and operates nearly 1,500 miles of FERC-regulated interstate natural gas pipeline in South Carolina and southeastern Georgia.