Milbank LLP is advising the lenders to KKR in connection with the $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 will combine 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 Milbank deal team was led by partners Dan Bartfeld, Carolina Walther-Meade, Brett Goldblatt and Henry Scott, with associates Chris Bloom, Jesseon Ahn and Roy Jackson.
