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    SRE   US8168511090

SEMPRA

(SRE)
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SEMPRA ENERGY : Other Events (form 8-K)

10/01/2021 | 04:22pm EST

Item 8.01 Other Events.

On October 1, 2021, Sempra Energy ("Sempra") completed the sale to KKR Pinnacle Investor L.P. (as successor-in-interest to KKR Pinnacle Aggregator L.P.), an affiliate of Kohlberg Kravis Roberts & Co. L.P. ("KKR"), of 20% of the equity interests of Sempra's wholly owned subsidiary, Sempra Infrastructure Partners (formerly Sempra Global), for an aggregate purchase price of $3.37 billion, subject to certain post-closing adjustments (the "Minority Interest Sale"). Pursuant to an internal reorganization conducted by Sempra in connection with the Minority Interest Sale, Sempra Infrastructure Partners holds the assets of Sempra's liquefied natural gas business and Sempra's 99.9% ownership interest in Infraestructura Energética Nova, S.A.B. de C.V. ("IEnova"). Upon completing the Minority Interest Sale, Sempra and KKR entered into a limited partnership agreement (the "LP Agreement") that governs their respective rights and obligations in respect of their ownership of Sempra Infrastructure Partners. Pursuant to the LP Agreement, Sempra generally maintains control of Sempra Infrastructure Partners as the 80% owner, with KKR having certain minority protections.

The Minority Interest Sale was completed pursuant to a purchase and contribution agreement dated April 4, 2021, which was subsequently amended prior to completion of the Minority Interest Sale to reflect, among other immaterial revisions, the final consideration actually paid by Sempra to acquire the IEnova ordinary shares it did not already own through its previously-announced and completed stock-for-stock exchange offer and cash tender offer, which consideration was used to determine the price per share paid by KKR for its proportionate share of Sempra Infrastructure Partners' ownership interest in IEnova. The terms of such agreement and the LP Agreement are described more fully in Sempra's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on April 5, 2021, which is incorporated herein by reference.

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© Edgar Online, source Glimpses

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Sales 2021 12 118 M - -
Net income 2021 2 543 M - -
Net Debt 2021 23 814 M - -
P/E ratio 2021 15,1x
Yield 2021 3,56%
Capitalization 39 518 M 39 518 M -
EV / Sales 2021 5,23x
EV / Sales 2022 5,26x
Nbr of Employees 14 706
Free-Float 93,2%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 123,75 $
Average target price 146,47 $
Spread / Average Target 18,4%
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Jeffrey Walker Martin Chairman, Co-President & Chief Executive Officer
Kevin Christopher Sagara Group Co-President & Executive Vice President
Trevor Ian Mihalik Chief Financial Officer & Executive Vice President
Eric G. Trapp Vice President-Security & Technology
William D. Jones Lead Independent Director
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