Sempra sells 10 billion dollars stake in infrastructure unit and approves Port Arthur expansion
Sempra, a U.S. utility company, announced on Tuesday that it would sell its infrastructure unit to a third party for $10 billion. It also approved a $14 billion project expansion in Texas at Port Arthur LNG.
The company is selling a 45% stake in Sempra Infrastructure Partners to KKR, Canada Pension Plan Investment Board and other investors. Sempra Infrastructure Partners owns liquefied gas assets, pipelines and storage facilities.
Private equity firms are rushing to buy power infrastructure assets, as electricity consumption reaches record levels. This is primarily due to data centers that run AI operations and domestic usage.
After the deal is closed, a KKR led consortium will be the majority owner with a 65% share, while Sempra retains a 25% stake alongside Abu Dhabi Investment Authority’s existing 10%.
The deal is expected to be closed between the second quarter and third quarter of 2026.
Sempra anticipates that the deal will add approximately 20 cents per share to its annual earnings by 2027.
In premarket trading, shares of the company increased by 3.2% to $85. Reporting by Vallari Shrivastava, Bengaluru. Editing by Shilpa Majumdar.
(source: Reuters)
