Simpson Thacher is advising KKR in connection with its $3.37 billion acquisition of a non-controlling, 20% interest in Sempra Energy’s (NYSE: SRE) new business platform, Sempra Infrastructure Partners. The transaction values Sempra Infrastructure Partners at approximately $25.2 billion, including expected asset-related debt at closing of $8.37 billion. The transaction is expected to be completed by mid-2021, subject to customary closing conditions, including consents from certain third parties and regulators.
Sempra Infrastructure Partners combines the strengths of Sempra LNG, a leading developer of liquefied natural gas (LNG) export infrastructure, and IEnova (Infraestructura Energética Nova, S.A.B de C.V.), one of the largest private energy companies in Mexico and a leading developer and operator of renewables and natural gas infrastructure in that country.
The Simpson Thacher team includes Breen Haire, Shamus Crosby, Tyler Cox, Michael Spirtos, Hunter Hampton, Grant Gannon and Siwei Yang (M&A); Nancy Mehlman and Joseph Tootle (Tax); Brian Steinhardt and Zachary Banks (Credit); Dennis Loiacono (Real Estate); Tristan Brown and Alyssa Ohanian (ECEB); Adeeb Fadil and Noreen Lavan (Environmental); Melanie Jolson (IP); and Étienne Renaudeau (Antitrust).