Sempra Energy Announces Agreement To Sell Non-Controlling Interest In Sempra Infrastructure Partners
This transaction values
Today's announcement is part of a series of integrated transactions originally announced in
"Over the next decade, we expect the energy markets in
"Investing in critical new energy infrastructure creates jobs, delivers reliable energy with fewer emissions and supports
KKR will be making the investment through its Global Infrastructure Investors Funds. KKR first established its Global Infrastructure strategy in 2008 and has since been one of the most active infrastructure investors around the world with a team of more than 50 dedicated investment professionals. The firm currently has over
The transaction is expected to be completed by mid-2021, subject to customary closing conditions, including consents from certain third parties and regulators.
Under the terms of the agreement, KKR will be acquiring its indirect interest in IEnova at
The new business platform is expected to create increased shareholder value and support the global energy transition by providing an improved platform for innovation and potential new investments in renewables, hydrogen, ammonia, energy storage and carbon sequestration.
- An LNG portfolio consisting of up to 45 million tonnes per annum (Mtpa) of LNG export capacity in development, construction or operation on the North American Pacific and Gulf Coasts;
- A renewable portfolio consisting of up to 4 gigawatts (GW) of renewable energy generation in development, construction or operation in
Mexicoand related electric transmission infrastructure; and
- A natural gas infrastructure portfolio consisting of distribution companies and certain cross-border and in-country pipelines, including those that export
U.S.natural gas to Mexicoand supply the Energía Costa Azul LNG facility.
Proceeds from the sale will be used to help fund growth across
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of The
Additional Information and Where to Find It
The proposed stock-for-stock exchange offer will be submitted to shareholders of Infraestructura Energética Nova,
Neither this press release nor the information contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities in
Certain Information Concerning Participants
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.
Forward-looking statements in this press release include any statements regarding the ability to complete the proposed transactions described herein on the anticipated timeline or at all, the anticipated benefits of these transactions if completed, the projected impact of these transactions on
Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: the timing of the proposed transactions described herein; the ability to satisfy the conditions to closing these transactions; the ability to obtain regulatory approvals necessary to complete these transactions; the ability to achieve the anticipated benefits of these transactions; the effect of this communication on
These risks and uncertainties are further discussed in the reports that
Sempra North American Infrastructure, Sempra LNG, Sempra Mexico,
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Media Contact - Linda Pazin, Sempra Energy: (877) 340-8875 email@example.com. Financial Contact - Lindsay Gartner Sempra Energy: (877) 736-7727, firstname.lastname@example.org. KKR Media Contacts - Kristi Huller or Miles Radcliffe-Trenner, email@example.com.