Sempra To Sell 45% Stake In Infrastructure Unit To KKR In $10 Billion Deal
Synopsis
The deal is expected to close in the second or third quarter of 2026, leaving the KKR-led consortium with a 65% stake in Sempra Infrastructure Partners, Sempra with a 25% stake, and the Abu Dhabi Investment Authority retaining its 10% stake.
Sempra (SRE) announced on Tuesday that it has agreed to sell a 45% stake in its Sempra Infrastructure Partners unit to affiliates of KKR (KKR) and the Canada Pension Plan Investment Board.
The deal values Sempra Infrastructure Partners at an implied equity value of $22.2 billion and an enterprise value of $31.7 billion, with total proceeds of roughly $10 billion. Under the transaction terms, Sempra is expected to receive 47% of the cash at closing, 41% by the end of 2027, and the remaining balance about seven years after the deal closes.
The company expects the deal to close in the second or third quarter of 2026. Upon completion, the KKR-led consortium will hold a majority 65% equity stake in Sempra Infrastructure Partners. Sempra will retain a 25% interest, while the Abu Dhabi Investment Authority maintains its existing 10% stake.
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