CNB Business: Dominion Midstream Partners To Acquire Interests In Iroquois Gas Transmission

RICHMOND, Va., Aug. 19, 2015 /PRNewswire/ — Dominion Midstream Partners, LP (NYSE: DM), announced today that it has entered into agreements with affiliates of National Grid plc and New Jersey Resources Corporation to acquire their ownership interests in Iroquois Gas Transmission System, L.P., in exchange for the issuance of approximately 8.6 million common units in Dominion Midstream having an agreed-upon value of approximately $286.5 million. As part of the agreements, National Grid and New Jersey Resources would contribute their combined 25.93 percent ownership interests in Iroquois to Dominion Midstream in exchange for newly issued Dominion Midstream common units. Dominion Midstream has no plans to acquire the ownership interest in Iroquois currently held by Dominion Gas Holdings, LLC, a wholly owned subsidiary of Dominion Resources, Inc. (NYSE: D).