Sempra gains on $10 billion stake sale in unit, Port Arthur expansion project approval

Shares of U.S. electric and gas utility Sempra SRE.N rise 4.6% to nearly seven-month high of $86.19

Company to sell 45% equity interest in unit Sempra Infrastructure Partners for $10 billion to affiliates of investment firm KKR KKR.N and Canada Pension Plan Investment Board

Deal implies equity value of $22.2 billion and enterprise value of $31.7 billion for Sempra Infrastructure Partners

SRE says transaction expected to add about 20 cents to annual earnings per share from 2027

Transaction is expected to close between Q2 and Q3 2026

*Meanwhile, final investment decision for Port Arthur LNG Phase 2 expansion underscores rapidly growing demand for U.S. exports of super-chilled fuel

Funding for expansion comes from $7 billion minority equity investment led by Blackstone Credit & Insurance, along with KKR, Apollo-managed funds and Goldman Sachs Alternatives

Including session's move, stock down ~2% YTD