Dominion Energy, Dominion Energy Midstream announce definitive merger agreement

The transaction is expected to be approximately neutral to DE’s earnings guidance and credit profile. Closing of the transaction is expected to occur in 1Q19 and will be subject to customary closing conditions.

The 4Q18 DEM common unit distribution is expected to be paid in early 2019, prior to or in conjunction with the transaction closing. The distribution is expected to be equal to the 3Q18 distribution, declared on 19 Oct 2018, of US$0.369 per unit. All distribution decisions are subject to approval of the Board of Directors of Dominion Energy Midstream GP LLC, the general partner of DEM.

Moelis & Company LLC and Richards Layton & Finger P.A. acted as financial and legal advisers, respectively, to the DEM Conflicts Committee.