DealsNov 12, 2026, 04:23 PM
Sempra Sells 45% Stake in SI Partners for $4.56B Cash; Names New CFO
AI Summary
Sempra has completed the sale of a 45% equity interest in Sempra Infrastructure Partners, LP to entities owned by affiliates of Kohlberg Kravis Roberts & Co. L.P. and Canada Pension Plan Investment Board for $4.56 billion in cash, with additional payments to be made via promissory notes. The company anticipates a pre-tax gain on sale between $2.80 billion and $3.30 billion. Concurrently, Sempra announced management changes: Justin C. Bird will become Executive Vice President and Chief Financial Officer, while Karen L. Sedgwick will assume the role of Chief Executive Officer of Southern California Gas Company, both effective November 13, 2026.
Key Highlights
- Sempra completed the sale of a 45% equity interest in Sempra Infrastructure Partners, LP to KKR Partners for $4.56 billion in cash.
- An additional $4.14 billion plus interest will be paid under instruments supported by equity commitment letters.
- A further $1.20 billion plus interest will be paid under promissory notes, potentially totaling $2.31 billion.
- Sempra expects to record a pre-tax gain on sale of approximately $2.80 billion to $3.30 billion.
- Sempra expects to recognize $450 million to $550 million in additional transaction costs.
- Following the sale, KKR Partners own 65%, Sempra retains 25%, and ADIA retains 10% of SI Partners.
- Justin C. Bird appointed Executive Vice President and Chief Financial Officer, effective November 13, 2026.
- Karen L. Sedgwick appointed Chief Executive Officer of Southern California Gas Company, effective November 13, 2026.
Price Impact
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