Con Edison Sells 6.6% Stake in Mountain Valley Pipeline to Ares for $357.5 Million
A subsidiary of Consolidated Edison, Inc. has agreed to sell its approximately 6.6 percent interest in Mountain Valley Pipeline, LLC-including both the Mountain Valley Pipeline and its Mainline Expansion-to an Ares Management fund for $357.5 million. The final purchase price will be adjusted for accrued taxes, performance assurances, and other factors, and increased by any capital contributions made by the seller before the deal closes. The transaction is expected to close in the first half of 2026, pending customary closing conditions and the potential exercise of preferential rights by MVP's founding members. Consolidated Edison expects to use the proceeds to offset some of its common equity needs for 2026 and for general corporate purposes.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Consolidated Edison Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-25-293866), on November 24, 2025, and is solely responsible for the information contained therein.
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