Representational image Sempra, a US-based energy infrastructure company, has agreed to sell a non-controlling 10 percent interest in its business platform, Sempra Infrastructure for $1.79 billion to a subsidiary of the Abu Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund. According to the company, this transaction implies an enterprise value for Sempra Infrastructure of $26.5 billion, including asset-related debt of approximately $8.6 billion. In October, Sempra completed the sale of a 20 percent non-controlling interest in Sempra Infrastructure to a wholly-owned affiliate of Kohlberg Kravis Roberts (KKR), an American global investment company. Following the closing of the latest transaction, Sempra will own a 70 percent controlling stake in Sempra Infrastructure. The transaction is expected to be completed in mid-2022, subject to customary closing conditions and consents from regulators. Under the terms of the agreement, ADIA will have certain customary minority rights in Sempra Infrastructure, commensurate with the size of the investment. Khadem AlRemeithiExecutive DirectorReal Estate & Infrastructure DepartmentADIA “At ADIA, we see tremendous opportunity in the ongoing transformation of global energy markets. In North America, few businesses are as well-positioned as Sempra Infrastructure to build the new energy systems for the 21st century. We look forward to building…
