Investors Elliott Management and Bluescape Resources, which hold 15% of total shares, have written to Sempra Energy calling for the company to shed several "attractive but non-core" units and focus on distribution utilities and liquefied natural gas. The move could see the divestment of wind and solar capacity totalling 1.66 GW, as well as energy companies in Chile, Mexico and Peru. Elliott and Bluescape claim the move would raise the company's valuation by $11bn to $16bn. They also wish to bring more utility experience to Sempra's board. Sempra said it would reply to the proposal "in due course".
Investors Elliott Management and Bluescape Resources, which hold 4.9% of total shares, have written to Sempra Energy calling for the company to shed several "attractive but non-core" units and focus on distribution utilities and liquefied natural gas. The move could see the divestment of wind and solar capacity totalling 1.66 GW, as well as energy companies in Chile, Mexico and Peru. Elliott and Bluescape claim the move would raise the company's valuation by $11bn to $16bn. They also wish to bring more utility experience to Sempra's board. Sempra said it would reply to the proposal "in due course".