Buffett's First Major Investment Since COVID Crisis: Acquisition of Dominion Energy
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Interest in Investment Moves Since COVID-19
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[Asia Economy New York=Correspondent Baek Jong-min] 'Billionaire investor' Warren Buffett's Berkshire Hathaway announced on the 5th (local time) that it will acquire the gas division of Dominion Energy, a natural gas transportation company.
According to CNBC, Berkshire Hathaway plans to pay $4 billion for this deal. Including Dominion Energy's debt, the total transaction size reaches approximately $10 billion. Berkshire will be able to significantly strengthen its energy sector by acquiring Dominion Energy.
Currently, Berkshire Hathaway holds an 8% market share in the U.S. natural gas transportation sector, but it is expected that the share will rise to 18% after acquiring Dominion Energy.
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U.S. media highlighted that this is Buffett's first deal since the outbreak of the novel coronavirus disease (COVID-19). After selling all airline stocks he held following the COVID-19 outbreak, Buffett had not shown any special investment moves despite the stock market soaring.
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