Sempra Energy has completed the sale of its Peruvian businesses to Hong Kong–based China Yangtze Power Intl. for $3.59 billion in cash.
The sale includes Sempra's 83.6 percent stake in Luz del Sur, the largest electric company in Peru, as well as Tecsur, which provides electric construction and infrastructure services to Luz del Sur and third parties. The sale also includes Inland Energy S.A.C., Luz del Sur's generation business.
Earlier this month, Sempra received the necessary authorizations to move forward with the sale and was expecting the deal to close this month.
Jeffrey Martin, chairman and CEO of Sempra, said the sales proceeds will be used to strengthen the company’s balance sheet.
“We also remain on track for the sale of our Chilean businesses, which will complete the divestiture of all of Sempra's South American assets and further our mission
