New York (CNN Business)In its first deal since the economic downturn caused by coronavirus, Berkshire Hathaway is purchasing natural gas transmission and storage assets from Dominion Energy in a deal worth nearly $10 billion.
Berkshire Hathaway (BRKA) will pay $4 billion in cash for the assets in addition to assuming $5.7 billion in debt from Dominion Energy (D), the energy company said Sunday.
Investors had been wondering whether the massive conglomerate owned by Warren Buffett would look to make new investments in light of the economic downturn, especially after the company said in May it had $137 billion in cash on its balance sheet.
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