Sempra Energy has agreed to sell a noncontrolling 20 percent interest in Sempra Infrastructure Partners to KKR for $3.37 billion in cash.
This transaction values Sempra Infrastructure Partners at $25.2 billion, including expected asset-related debt at closing of $8.37 billion.
The sale is part of a series of integrated transactions announced in December 2020 that are intended to simplify Sempra Energy’s non-utility infrastructure investments under one self-funding platform. The platform will combine the strengths of Sempra LNG and IEnova (Infraestructura Energética Nova), one of the largest private energy companies in Mexico.
“Over the next decade, we expect the energy markets in North America to continue to grow and become increasingly integrated,” said Jeffrey Martin, chairman and CEO of Sempra Energy. “Combining our resources with KKR improves our ability to capture new investment opportunities in cleaner forms of energy and the critical infrastruc