Sempra is executing on five value-creation initiatives designed to simplify its business model, improve financial performance and reduce risk. Topping the list is its agreement to sell 45 percent of Sempra Infrastructure Partners, one of North America’s leading energy infrastructure platforms, to the Canada Pension Plan Investment Board (CPP Investments) and affiliates of KKR for $10 billion in cash.
The transaction amount implies an equity value of $22.2 billion and an enterprise value of $31.7 billion for Sempra Infrastructure Partners.
According to the agreement terms, a KKR-led consortium will become the majority owner of Sempra Infrastructure Partners with a 65 percent equity stake, while Sempra will retain a 25 percent interest alongside Abu Dhabi Investment Authority’s existing 10 percent stake. Under the terms of the agreement, Sempra and ADIA will have certain minority rights in Sempra Infrastructure Partners.
The transaction helps strengthen Sempra
