Utility Sempra to sell stake in infrastructure platforms for $10 billion

(Reuters) -Electric and gas utility Sempra said on Tuesday it would sell a 45% equity interest in Sempra Infrastructure Partners to the affiliates of investment firm KKR and Canada Pension Plan Investment Board for $10 billion.

The deal, which values Sempra’s unit at $22.2 billion in equity and $31.7 billion on an enterprise basis, is expected to close in the second or third quarter of 2026.

The San Diego-based company also announced a final investment decision on phase 2 of its Port Arthur LNG export project in Texas.

(Reporting by Vallari Srivastava in Bengaluru; Editing by Shilpi Majumdar)