LAS VEGAS, Nov. 17, 2021 /PRNewswire/ -- Southwest Gas
Holdings, Inc. (NYSE: SWX) announced today that the waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976
("HSR Act"), as amended, expired at 11:59
p.m. EST on November 15, 2021
in connection with the Company's pending acquisition of Dominion
Energy Questar Pipeline, LLC, its subsidiaries and certain
associated affiliates, including Overthrust Pipeline, White River
Hub and Questar Field Services ("Questar Pipelines") from Dominion
Energy, Inc. (NYSE: D).
The expiration of the HSR Act waiting period satisfies one of
the conditions to the closing of the pending acquisition. The
transaction is expected to close on or before December 31, 2021, subject to the satisfaction of
other customary closing conditions.
For additional details on the acquisition, please see the press
release provided on our Investor Relations web page.
About Southwest Gas Holdings, Inc.
Southwest Gas Holdings, Inc., through its subsidiaries, engages
in the business of purchasing, distributing and transporting
natural gas, and providing comprehensive utility infrastructure
services across North America.
Southwest Gas Corporation, a wholly owned subsidiary, safely and
reliably delivers natural gas to over two million customers in
Arizona, California and Nevada. Centuri Group, Inc., a wholly owned
subsidiary, is a comprehensive utility infrastructure services
enterprise dedicated to delivering a diverse array of solutions to
North America's gas and electric
providers.
About Dominion Energy Questar Pipeline, LLC
Dominion Energy Questar Pipeline, LLC is an interstate natural
gas pipeline company that provides transportation and underground
storage services in Utah,
Wyoming and Colorado. Dominion Energy Questar Pipeline,
LLC owns and operates the Clay Basin storage facility located on
the Wyoming-Utah border. Clay Basin is the largest
underground storage reservoir in the Rocky Mountain Region. Through
wholly-owned subsidiaries, Dominion Energy Questar Pipeline, LLC
owns and operates the Dominion Energy Overthrust Pipeline, LLC in
southwestern Wyoming. Dominion
Energy Questar Pipeline also operates and owns 50% of the White
River Hub providing transportation and hub services through
interconnections with six interstate pipeline systems and a major
processing plant near Meeker,
Colorado.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements are based on current expectations,
estimates and projections about, among others, the industry,
markets in which Southwest Gas Holdings, Inc. (the "Company,"
"Southwest Gas Holdings," "SWX," or "we") operates, and the
transaction described in this press release. While the Company's
management believes the assumptions underlying its forward-looking
statements and information are reasonable, such information is
necessarily subject to uncertainties and may involve certain risks,
many of which are difficult to predict and are beyond the control
of the Company's management. These risks include, but are not
limited to: (1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the Sale
and Purchase Agreement by and between Dominion Energy Questar
Corporation and the Company (the "Purchase Agreement"); (2) the
outcome of any legal proceedings that may be instituted against the
Company and others following announcement of the Purchase
Agreement; (3) risks that the proposed transaction disrupts current
plans and operations; (4) the risks related to the ability of the
Company to integrate Questar Pipelines; (5) the amount of the
costs, fees, expenses and charges related to the transaction and
the actual terms of certain financings that will be obtained for
the transaction; (6) potential negative impacts to the Company's
credit ratings as a result of the transaction; and (7) other risks
that are set forth under "Risk Factors" in the Company's Annual
Report on Form 10-K for the year ended December 31, 2020, the Company's Quarterly
Reports on Form 10-Q for the quarter ended September 30, 2021 and in future filings with the
SEC. All forward-looking statements speak only as of the date of
this press release. All subsequent written and oral forward-looking
statements attributable to the Company or any person acting on its
behalf are qualified by the cautionary statements in this section.
The Company undertakes no obligation to update or publicly release
any revisions to forward-looking statements to reflect events,
circumstances or changes in expectations after the date of this
press release.
Contacts
For Shareholders information, contact: Ken Kenny (702) 876-7237
ken.kenny@swgas.com
For media information, contact: Sean
Corbett (702) 876-7219 sean.corbett@swgas.com
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SOURCE Southwest Gas Holdings, Inc.