Energy infrastructure company Sempra Energy said on Monday it would sell a 20% stake in its new business platform, Sempra Infrastructure Partners, to investment firm KKR for $3.37 billion in cash.
The deal announced on Monday values Sempra Infrastructure Partners at about $25.2 billion, including expected asset-related debt at closing of $8.37 billion, the company said in a statement.
Proceeds from the sale will be used to help fund growth across Sempra Energy’s $32 billion capital program, which is centered on its U.S. utilities.
Read more at Reuters
By Arunima Kumar and Aditya Soni
Image Source
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.