Benzinga | Dec 2, 2020 06:56AM EST

Sempra Energy Announces 'Integrated Transactions To Form New Infrastructure Platform'

SAN DIEGO, Dec. 2, 2020 /PRNewswire/ -- Sempra Energy (NYSE:SRE) (Company) today announced a series of integrated transactions intended to simplify its energy infrastructure investments under one platform -- creating scale, unlocking portfolio synergies and better positioning the business for growth. To accomplish this, the Company announced its intention to launch a stock-for-stock exchange offer for the publicly traded shares of IEnova (Infraestructura Energ?tica Nova, S.A.B de C.V.), with the Sempra Energy exchange shares to be listed on the Mexican stock exchange (Bolsa Mexicana de Valores, S.A.B de C.V.) (BMV). In addition, the Company announced plans for the formation of a new business platform, Sempra Infrastructure Partners, combining the strengths of Sempra LNG, a leading developer of liquefied natural gas (LNG) export infrastructure, and IEnova, one of the largest private energy companies in Mexico and a leading developer and operator of pipeline, storage and renewables infrastructure. Lastly, the Company intends to sell a non-controlling interest in Sempra Infrastructure Partners in order to fund growth and highlight the underlying value of the platform. Subject to obtainingall required regulatory approvals and the satisfaction of other customary conditions, the Company expects to complete these transactions in the first quarter of 2021.