Sempra Energy Announces Integrated Transactions To Form New Infrastructure Platform
"We are excited about today's announcement. In large measure, it is because we believe
"We are especially excited to be listing
The Company today announced its intent to launch an exchange offer to acquire all the outstanding shares of IEnova not owned by
This new business platform is intended to simplify and add scale to the Company's North American infrastructure business.
- The LNG portfolio consisting of approximately 45 million tonnes per annum (Mtpa) of LNG export capacity in development, construction or operation on the North American Pacific and Gulf Coasts;
- The 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; and
- The renewable portfolio consisting of roughly 4 gigawatts (GW) of renewable energy generation in development, construction or operation in
Mexicoand related electric transmission infrastructure.
The Company has initiated a process to sell a non-controlling interest in
As a follow-on to today's announcement, the Company will host a conference call on
IEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2019, the company has 1,300 employees and approximately US$9.6 billion in total assets, making it one of the largest private energy companies in the country. IEnova was the first energy infrastructure company to be listed on the
(1) Price information as of the market close on
Additional Information and Where to Find It
The proposed stock-for-stock exchange offer will be submitted to IEnova's shareholders for their consideration. In connection with the proposed exchange offer,
Neither this announcement 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 the 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 identify a suitable partner for SIP and negotiate favorable terms for such partnership; 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 Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.
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Media Contact: Linda Pazin, Sempra Energy, (877) 340-8875, firstname.lastname@example.org; or Financial Contact: Lindsay Gartner, Sempra Energy, (877) 736-7727, email@example.com