Sempra Energy in deal for InfraREIT

|About: InfraREIT (HIFR)|By:, SA News Editor

The deal will have Oncor Electric Delivery Company purchasing 100% of InfraREIT (NYSE:HIFR) for about $1.275B, or $21 per share. Sempra Energy (NYSE:SRE) is an owner of roughly 80% of Oncor.

Sempra will purchase a 50% limited partnership interest in a holding company that will own Sharyland Utilities for about $98M.

Regulatory approval will be necessary, and the deal is hoped to close in the middle of next year.

Sempra affirms EPS guidance for 2019 of $5.70-$6.30 and 2020 of $6.70-$7.50.

A conference call is set for 12 ET.

Source: Press Release

HIFR +1.65% premarket to $20.97.

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