By Chelsey Dulaney
Scana Corp. said Tuesday that it has agreed to sell two of its
wholesale businesses for about $650 million, as part of the utility
provider's push to focus on its core retail business.
Dominion Resources Inc. will buy Scana's Carolina Gas
Transmission Corp., an interstate pipeline company with 1,500 miles
of pipe running through South Carolina and Georgia.
Spirit Communications, a private group of independent telephone
companies, will buy Scana Communications Inc., which operates a
1,125 mile fiber-optic telecommunications network.
The units account for about 2% of Scana's total assets.
Cayce, S.C.-based Scana said the employees of Carolina Gas will
be retained by Dominion and most of Scana Communication's workers
will be offered jobs with Spirit.
The transactions are expected to close by March, and Scana
expects to net $400 million from the sales. Scana expects the sales
will add to its earnings.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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