Sempra has announced the close of its previously announced sale of a 45% equity interest in Sempra Infrastructure Partners to affiliates of KKR, a leading global investment firm, with indirect co-investor Canada Pension Plan Investment Board.
“This marks an exciting milestone at Sempra,” said Jeffrey W. Martin, Chair-man and CEO of Sempra. “This transaction supports our efforts to further simplify the company's business model while supporting the growth of our utilities in Texas and California.”
SI Partners is one of North America's leading energy infrastructure platforms, with a portfolio of LNG export and related infrastructure assets and strong industry partnerships, positioned to help meet growing global energy demand and advance energy security. Under the terms of the transaction, the KKR-led consortium now holds a 65% ownership interest in SI Partners. Sempra retains a 25% interest, alongside an affiliate of Abu Dhabi Investment Authority's existing 10% ownership stake.
The closing of the sale of this equity stake in SI Partners follows the recent sale of Ecogas México, S. de R.L. de C.V. in August. In combination, these trans-actions further Sempra's capital recycling program with a view toward simplifying the company's business model, strengthening its financial position, and support-ing long-term utility growth in Texas and California.
Sempra is well-positioned to continue executing its strategy to strengthen its presence in major economic markets and focus its resources on meeting the growing needs of its Texas and California utilities. This approach supports continued investment in modernising and expanding critical energy infrastructure while helping power America's growing economy.
