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