Sempra Energy Unit IEnova Receives Approval For Acquisition Of PEMEX Stake In Joint Venture
Purchase Expected to Close Later This Month
SAN DIEGO, Sept. 21, 2016 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), has received approval from Mexico's antitrust commission (Comisión Federal de Competencia Económica) for the purchase of PEMEX's 50-percent equity interest in the Gasoductos de Chihuahua joint venture for approximately $1.1 billion.
Gasoductos de Chihuahua develops and operates energy infrastructure in Mexico; its assets included in the transaction comprise three natural gas pipelines, an ethane pipeline, and a liquid petroleum gas pipeline and associated storage terminal.
The purchase, which is subject to customary closing conditions, is expected to be completed later this month.
IEnova develops, builds and operates energy infrastructure in Mexico. As of Dec. 31, 2015, the company invested more than US$4 billion in operating assets and projects under construction in Mexico and is one of the largest private energy companies in the country. IEnova is the first energy infrastructure company to be listed on the Mexican Stock Exchange.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2015 revenues of more than $10 billion. The Sempra Energy companies' 17,000 employees serve more than 32 million consumers worldwide.
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the impact on competitive customer rates of the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system; the inability or determination not to enter into long-term supply and sales agreements or long-term firm capacity agreements due to insufficient market interest, unattractive pricing or other factors; and other uncertainties, all of which are difficult to predict and many of which are beyond our control.
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Sempra International, LLC, Sempra U.S. Gas & Power, LLC, and Sempra Partners, LP, are not the same companies as the California utilities, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra International, LLC, Sempra U.S. Gas & Power, LLC, and Sempra Partners, LP, are not regulated by the California Public Utilities Commission. Sempra International's underlying entities include Sempra Mexico and Sempra South American Utilities. Sempra U.S. Gas & Power's underlying entities include Sempra Renewables and Sempra Natural Gas.
SOURCE Sempra Energy
CategorySempra International , Sempra Energy