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Agreement to Sell 45% of Sempra Infrastructure Partners for $10 billion in cash
Accretive Transaction Improves Sempra's Financial Strength
Efficiently Funds 2025–2029 Capital Plan without Equity Issuances
Reached Final Investment Decision for Port Arthur LNG Phase 2
Hosting Conference Call at 11 a.m. EST
Sale of Equity Stake in Sempra Infrastructure Partners
Sempra announced that it has agreed to sell a 45% equity interest in Sempra Infrastructure Partners, one of North America's leading energy infrastructure platforms, to affiliates of KKR, a leading global investment firm, with Canada Pension Plan Investment Board (CPP Investments).
Subject to adjustments, the transaction proceeds of $10 billion implies an equity value of $22.2 billion and an enterprise value of $31.7 billion for Sempra Infrastructure Partners.
Before adjustments, Sempra is expected to receive 47% of the cash at close, 41% by year-end 2027 and the balance approximately seven years after closing. This schedule helps Sempra generate attractive post-closing interest income as it efficiently reinvests proceeds over time in capital expenditures at its U.S. utilities.
The transaction is expected to close in Q2 – Q3 2026, subject to necessary regulatory and other approvals and closing conditions.
Upon closing, a KKR-led consortium will become the majority owner of Sempra Infrastructure Partners, holding a 65% equity stake, while Sempra will retain a 25% interest alongside Abu Dhabi Investment Authority's (ADIA) existing 10% stake. Under the terms of the agreement, Sempra and ADIA will have certain minority rights in Sempra Infrastructure Partners.
Posted In: SRE
