Sempra Sells Controlling Interest to KKR, CPP for $10B; Gives Nod to $12B FID for Port Arthur LNG Phase 2

One of the largest utility builders and providers in North America, Sempra Infrastructure Partners, announced Tuesday (Sept. 23) that it is selling 45 percent of its operation to a consortium led by KKR with the Canada Pension Plan Investment Board for $10 billion in cash.

The deal implies an equity value of $22.2 billion and an enterprise value of $31.7 billion for Sempra. The deal will give the KKR/CPP consortium a 65 percent interest in Sempra Infrastructure Partners, with Sempra retaining a 25 percent interest. Abu Dhabi Investment Authority will keep its existing 10 percent stake.