Dominion Midstream News

Dominion Midstream to buy Questar Pipeline

Dominion Midstream Partners LP said on Monday it will buy Questar Pipeline LLC for about $1.73 billion including debt from Dominion Resources. The deal, a dropdown of assets, would partly be financed by Dominion Midstream through a public offering of Dominion Midstream's common units, and includes $435 million of Questar's outstanding debt. A drop-down transaction is the acquisition of assets by a company, followed by a transfer of those assets to a partnership.