Jan 11, 2019
McGuireWoods Consulting and McGuireWoods LLP Advise Dominion Energy in Closing $13 Billion Merger with SCANA
McGuireWoods Consulting South Carolina government relations team and national grassroots advocacy team worked with lawyers from multiple McGuireWoods LLP practices to assist Dominion in negotiating a $13.4 billion merger with South Carolina-based SCANA Corporation. Negotiations included securing approvals from three federal agencies and regulators in three states. The merger expands Dominion’s operations in Georgia, North Carolina and South Carolina and provides benefits to customers and communities in those states.
The McGuireWoods Consulting team worked with Dominion and the company’s partners to identify and generate public support for the merger. The deal cleared a major hurdle in December 2018 when the South Carolina Public Service Commission approved the merger and a plan to reduce customer rates. The deal provides significant benefits to SCANA’s South Carolina Electric & Gas Company customers to offset previous and future costs associated with the company’s withdrawn V.C. Summer nuclear project.
“Our team was pleased to work with Dominion to help policymakers and other stakeholders understand how this deal will benefit ratepayers and provide a strong energy partner for South Carolina,” said Jim Hodges, former governor of South Carolina and president of McGuireWoods Consulting.
McGuireWoods attorneys represented Dominion on regulatory aspects of the deal, advised on employee benefits issues and handled civil litigation associated with the transaction.
“Completing this transaction required best efforts and expertise across many legal and policy areas,” said Carlos M. Brown, Dominion’s senior vice president and general counsel. “Our full-service partners at the McGuireWoods law and consulting firms were exceptionally positioned to assist Dominion in successfully navigating the many legal and political challenges associated with this deal.”
The complexity of this merger allowed McGuireWoods to showcase its collaborative capabilities. “We were proud to represent Dominion in closing this landmark transaction,” said Joanne Katsantonis, deputy managing partner for industry teams, who led the McGuireWoods deal team. “This was a powerful example of the integrated services McGuireWoods can deliver to help clients address legal, regulatory and legislative challenges.”