San Diego-based Sempra Energy announced Friday that it completed the sale of its Peruvian businesses, generating about $3.59 billion in total cash proceeds.
“We are very pleased with today’s announcement as the sales proceeds will be used to further strengthen our balance sheet and our already solid liquidity position,” said Jeffrey W. Martin, chairman and CEO of Sempra Energy.
“We’re also very excited that, in the face of current travel restrictions, all parties worked safely together to complete this deal as expected,” he said. “We also remain on track for the sale of our Chilean businesses, which will complete the divestiture of all of Sempra Energy’s South American assets and further our mission to become North America’s premier energy infrastructure company.”
The sale to China Yangtze Power International (Hongkong) Co., Limited and assigned to Yangtze Andes Holding Co., Limited includes Sempra Energy’s 83.6% stake in Luz del Sur S.A.A., 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.
Luz del Sur serves the southern region of Lima, Peru, and is the largest electric company in the country.
Yangtze Andes Holding Co. is a subsidiary of China Yangtze Power Co., which is China’s largest publicly listed power company.
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