Berkshire Hathaway will take full ownership of Berkshire Hathaway Energy, after the unit of Warren Buffett's conglomerate agreed to pay $2.37 billion for the 8% stake owned by the family of late billionaire philanthropist Walter Scott.

Berkshire Hathaway Energy purchased an 8% stake in itself from the estate of Walter Scott, a former director who died in 2021.

Buffett was down on the utility industry's prospects in this year's letter to Berkshire Hathaway shareholders. But it's not clear what the current value of the utility divisions shares are today.

Warren Buffett's Berkshire Hathaway is buying the rest of its utility unit from the estate of a longtime board member who died three years ago, but it's not clear exactly how much it will pay for the 8% stake.

OMAHA, Neb. — Warren Buffett's Berkshire Hathaway is buying the rest of its utility unit from the estate of a longtime board member who died three years ago, but it's not clear exactly how much it will pay for that 8% stake in the massive utility business.

Berkshire Hathaway is a holding company with many large companies in its resume. Berkshire Hathaway has been led by Warren Buffett since 1965.