Sempra sells stake in infrastructure unit

Sempra sells stake in infrastructure unit

Equity Funds M&A Mexico Middle East United States Capital Markets Project & Infrastructure Finance Energy

US energy infrastructure company Sempra Energy has agreed to sell 10% of its infrastructure division, Sempra Infrastructure Partners, to a subsidiary of the Abu Dhabi Investment Authority (ADIA) for $1.79 billion, it said in a press release on Tuesday. Sempra will use the proceeds to fund investments in its utilities business and repurchase $500 million worth of shares, it said. "The timing of the transaction is attractive because it allows us to efficiently rotate capital into a growing set of

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