Global law firm White & Case LLP is advising Sempra Energy on its agreement to sell a non-controlling 10 percent interest in Sempra Infrastructure Partners, LP, to a subsidiary of the Abu Dhabi Investment Authority for US$1.78 billion in cash. The transaction implies an enterprise value for Sempra Infrastructure Partners of US$26.5 billion, including asset-related debt of approximately US$8.6 billion.
Sempra Energy is a North American energy infrastructure company with more than US$60 billion in total assets reported in 2018 and approximately 40 million customers worldwide. Sempra Infrastructure was created in early 2021 through the consolidation of two world-class infrastructure companies—Sempra LNG and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova). The combined business consists of three growth platforms—clean power, energy networks, and LNG and net-zero solutions—with a view toward capturing new opportunities that support the global energy transition.
The White & Case M&A team was led by partners Michael Deyong and Adam Cieply (both New York), Rodrigo Dominguez (Houston) and Henri Capin-Gally (Mexico City), and included associates Morgan Somerset (New York), Nate Bascom (Houston) and Mona Kalantar (Chicago). The team also included partner David Dreier and associate Grayson Weeks (both Tax) in New York; partner Henrik Patel (Employment, Compensation & Benefits) in New York; partner Arlene Arin Hahn (Technology Transactions) in New York; partner Seth Kerschner (Environmental) in New York; partner Farhad Jalinous and counsel Ryan Brady (both CFIUS) in Washington, DC; and partner Daniel Hagan and associate John Forbush (both Energy Regulatory) in Washington, DC.
White & Case previously advised Sempra on the formation of Sempra Infrastructure and Sempra’s agreement to sell a non-controlling 20 percent interest in Sempra Infrastructure Partners to KKR for US$3.37 billion in cash.
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