Company: SREA
Filing Date: 2025-03-31
Form Type: 8-K
Source: 0001032208-25-000020
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Company: SEMPRA
Filing Date: 2025-03-31
Form: 8-K
Item: Item 8.01
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Item 8.01 Other Events.

On March 28, 2025, the Board of Directors of Sempra determined to move forward with a process to sell (i) Ecogas México, S. de R. L. de C. V. (“ Ecogas”), a natural gas regulated distribution utility in Mexico owned by Sempra Infrastructure Partners (“ SI”), and (ii) a portion of Sempra’s 70% interest in SI equal to between 15% and 30% of SI’s total outstanding interests (the “ Minority Interest Sale”). SI and its operating subsidiaries generally make up one of Sempra’s reportable segments named Sempra Infrastructure, which owns all of Sempra’s energy infrastructure assets that are not U. S. utilities, including its liquefied natural gas assets and related infrastructure in the U. S. and Mexico.

On March 28, 2025, Sempra’s wholly owned subsidiary that holds its interest in SI (“ Sempra Partner”) issued a notice to SI’s minority partners, affiliates of Kohlberg Kravis Roberts & Co. L. P. (“ KKR”) and Abu Dhabi Investment Authority (“ ADIA”), of Sempra Partner’s intent to pursue the Minority Interest Sale (such notice, the “ Sale Notice”).

Under SI’s agreement of limited partnership (“ LPA”), KKR and ADIA have certain rights of first offer for Sempra Partner’s sale of its interests in SI to certain non-affiliates of Sempra Partner. KKR has 30 business days after the Sale Notice is given to notify Sempra Partner of its offer to purchase the interests included in the Sale Notice. If KKR does not exercise this right, then ADIA will have 10 business days thereafter to make an offer to purchase such interests. If either KKR or ADIA offers to purchase the interests included in the Sale Notice, then Sempra Partner will have 30 business days thereafter to notify KKR or ADIA, as applicable, of its interest in negotiating a definitive sale agreement. If neither KKR nor ADIA exercises its rights of first offer or a proposed transaction is not timely consummated under the terms of the LPA, then Sempra Partner will have the right to pursue the Minority Interest Sale with third parties.

The sale of Ecogas and the Minority Interest Sale are expected to be completed over the next 12-18 months, subject to reaching agreement on acceptable pricing and other terms, securing required regulatory and other approvals, finalizing definitive contracts and other factors and