M&A
confidence high
sentiment positive
materiality 0.90
Sempra sells 45% of Sempra Infrastructure Partners to KKR for $9.99B, approves PA LNG Phase 2 FID
SEMPRA
- Sells 45% of Sempra Infrastructure Partners to KKR/CPPIB for $9.99B base purchase price, raising KKR stake to 65%.
- Purchase price: $4.65B cash at close, $4.14B due Dec 2027 at 7.5% interest, $1.2B due ~2033 at 8.5%/10% interest.
- Approves PA LNG Phase 2 FID with ~13 Mtpa capacity, ~$14B capex, commercial ops in 2030-2031.
- Blackstone-led consortium invests $7B ($3.4B immediately, $3.6B later) for 49.9% equity in the PA LNG Phase 2 project.
- Sempra expects to record ~$500M income tax charge, classify Sempra Infrastructure as held for sale, stop depreciation.