Sempra Announces $2.2bn Exit from Chile
US energy group Sempra Energy has wrapped up the sale of its power assets in Chile to State Grid International Development, raising $2.23bn, it announced on June 23. The move, which follows the divestment of the company's Peruvian business in April, marks Sempra's complete withdrawal from South America.
Sempra CEO Jeffrey Martin said the deal was "an important step in narrowing [the company's] focus to the most attractive markets in North America." Sempra transmits and distributes electricity and gas across the US, builds and operates infrastructure in Mexico and is developing gas liquefaction projects in both countries.
"This sale furthers our mission to be North America's premier energy infrastructure company," Martin said.
Sempra has divested its 100% stake in power utility Chilquinta Energia and Tecnored, which provides construction and infrastructure services to Chilquinta. It has also offloaded a 50% interest in Elentrans, which owns, constructs, operates and maintains power transmission facilities.