RTTNews | Apr 5, 2021 07:07AM EDT

07:07 Monday, April 5, 2021 (RTTNews.com) - Sempra Energy (SRE) has agreed to sell a non-controlling, 20% interest in the company's new business platform, Sempra Infrastructure Partners, to KKR for $3.37 billion. The deal values Sempra Infrastructure Partners at approximately $25.2 billion, including expected asset-related debt at closing of $8.37 billion.

Sempra Energy will use the proceeds from the sale to help fund growth across the company's $32 billion capital program, and to further strengthen its balance sheet. The company expects the sale to be accretive to earnings.

KKR will be making the investment through its Global Infrastructure Investors Funds. KKR will be acquiring its indirect interest in IEnova at $4.13 per share. KKR will have certain minority rights with respect to Sempra Infrastructure Partners.

Read the original article on RTTNews ( https://www.rttnews.com/3182360/sempra-energy-to-sell-20-equity-interest-in-sempra-infrastructure-partners-to-kkr.aspx)

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