Dominion Energy to buy Scana, assume failed nuclear project costs
Dominion Energy announced it will buy Scana Corp. in a $7.9 billion stock-for-stock deal. Scana owns South Carolina Gas & Electric (SCE&G).
As part of the deal, Dominion will absorb Scana’s $6.7 billion of debt, bringing the final price tag to $14.6 billion. Dominion will also write off $1.7 billion of debt connected to the abandoned expansion project at SCE&G’s V.C. Summer nuclear power plant, as well as pay Scana customers an average of $1,000 within 90 days of the close of the deal.
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