Dominion Energy and xoom Energy unveil $8.5 billion merger
Dominion Energy on Wednesday unveiled plans to acquire $8 billion in energy companies from United States energy giant xoom.
The deal, which would create two of the country’s largest energy companies, would give the new company control of both the power grid and energy storage facilities in the United States, according to a press release.
The $8-billion acquisition is expected to be finalized by the end of 2019, the company said in a statement.
The announcement follows the announcement of a $10 billion acquisition last month by the same company of solar energy giant SolarCity Corp., which would give it control of a number of solar projects in the U.S.
The transaction was made public ahead of the end-of-year meeting of the U