Buffett's First Major Investment Since COVID Crisis: Acquisition of Dominion Energy

Investment in Gas-Related Companies After Selling Aviation Stocks
Interest in Investment Moves Since COVID-19

[Image source=Yonhap News]

[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.

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.