Dominion Midstream Partners entered into agreements with affiliates of National Grid and New Jersey Resources to acquire their ownership interests in Iroquois Gas Transmission System, in exchange for the issuance of approximately 8.6 million common units in Dominion Midstream having an agreed-upon value of approximately $286.5 million. As part of the agreements, National Grid and New Jersey Resources would contribute their combined 25.93 percent ownership interests in Iroquois to Dominion Midstream in exchange for newly issued Dominion Midstream common units.
