Sempra Energy has completed the sale of its Peruvian businesses, generating approximately US$3.59 billion in total cash proceeds, subject to post-closing adjustments. The sale to China Yangtze Power International (Hongkong) Co., Limited (CYP) and assigned to Yangtze Andes Holding Co., Limited includes Sempra Energy's 83.6% stake in Luz del Sur S.A.A. (Luz del Sur), as well as Tecsur S.A., which provides electric construction and infrastructure services to Luz del Sur and third parties, and Inland Energy S.A.C., Luz del Sur's generation business.
Sempra Energy continues to move forward with the sale of its Chilean assets, including its 100% interest in Chilquinta Energía S.A., to State Grid International Development Limited for approximately US$2.23 billion in total cash proceeds, subject to adjustments and satisfaction of closing conditions.
In combination, these transactions will conclude Sempra Energy's planned sale of its South American businesses for approximately US$5.82 billion in total cash proceeds, subject to adjustments and, with respect to the sale of its Chilean assets, satisfaction of closing conditions.
BofA Merrill Lynch is serving as a financial advisor to Sempra Energy on the sale, and White & Case is serving as a legal advisor.
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