Sempra (SRE) said Monday it is aiming to sell its natural gas distribution business Ecogas Mexico in a bid to simplify its portfolio and direct sale proceeds toward its five-year capital campaign.
Ecogas Mexico, which is the fifth-largest distribution network in the country, holds three utility franchises and distributes natural gas to Mexicali, Chihuahua, and La Laguna-Durango, the company said.
Sempra said it also starting a process to sell a minority interest in Sempra Infrastructure, which owns liquefied natural gas assets and related infrastructure.
The proceeds from the sale will also be used for the company's five-year capital campaign, which is focused on its US utilities, Sempra said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.