The newspaper were I live announced today that Dominion is selling off two of its divisions to raise cash. The two divisions are Dominion People's which serves Pittsburgh and southwest PA and Dominion Hope which serves West Virginia. Cash amount is about $950Mil and the buyer is an Australian investment company.The article further states that these divisions have been on the block since 2006. Anyone here remember what the rationale for divesting these two units might have been? and what the expected cash intake was? Also, what is the money being raised for?
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