Warren Buffett’s Berkshire buys Dominion Energy natural gas assets in $10 billion deal

Warren Buffett’s Berkshire Hathaway is finally pulling the trigger.

The conglomerate is spending $4 billion to buy the natural gas transmission and storage assets of Dominion Energy. Including the assumption of debt, the deal totals almost $10 billion. It’s Berkshire’s first major purchase since the coronavirus pandemic and subsequent market collapse in March.

At his annual shareholder meeting in May, Buffett revealed that Berkshire had built up a record $137 billion cash hoard as financial markets tanked and that he hadn’t seen many favorable deals, despite the stock market’s swoon.

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