Try to simplify his business model, based in San Diego Sow them Tuesday announced the sale of 45% interest in its infrastructure business to private equity giant KKR For $ 10 billion.
The shares of the tools for the utility closed almost 5% on the New York Stock Exchange.
The infrastructure unit of Sempra operates liquid natural gasterminals, gas pipes and clean energy, solar and wind generating facilities.
Jeffrey W. Martin, chairman and CEO of Sempra, said that the sale “was designed to simplify our company, efficiently to finance strong utilities in Texas and California and improve our financial strength.”
He added that the transaction “underlines our dedication to expand our strategic partnership with KKR, with whom we have a shared vision of improving the position of America as a world leader in LNG export.”
When closing, a consortium led by KKR becomes the majority of ownership Sempra Infrastructure PartnersWith an interest of 65%, while Sempra will retain an interest rate of 25% and the ABU Dhabi Investment Authority will retain 10%.
Sempra said that after the transaction about 95% the profit will come from regulated American utilities, while the proceeds eliminate the need for future issues to finance capital improvements.
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