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CPP Investments Buying Stake in Sempra Infrastructure
CPPIB buys a 13% stake in Sempra Infrastructure Partners for $3 billion alongside KKR, reinforcing its focus on natural gas assets after selling its Peru stake.
- CPP Investments signed a definitive agreement to buy a 13% indirect equity interest in Sempra Infrastructure Partners for about US$3 billion alongside affiliates of KKR and an existing investor.
- Sempra is spinning out its infrastructure arm by selling a 45 stake to KKR and CPP Investments for US$10-billion, as part of a corporate re-organization after share weakness.
- Sempra Infrastructure Partners develops, owns and operates natural gas pipelines, power generation and LNG export facilities in the United States and Mexico and owns more than 1,600 megawatts of renewable generation.
- Following the transaction, ownership of the infrastructure arm will shift as KKR becomes the majority owner and the deal is expected to close next year pending regulatory and other approvals.
- The move follows CPP Investments' sale of its TGP stake one month earlier and reflects its continued exposure to gas infrastructure while managing a Fund of C$731.7 billion for more than 22 million contributors.
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Total News Sources8
Leaning Left4Leaning Right0Center2Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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