Sempra agrees LNG committee shift with Elliott and Bluescape

Sempra agrees LNG committee shift with Elliott and BluescapeImage courtesy of Sempra Energy

Sempra Energy has entered into a cooperation agreement with affiliates of Elliott Management Corporation and Bluescape Energy Partners.

Funds affiliated with Elliott and Bluescape collectively own a 4.9-percent economic interest in Sempra Energy valued at $1.6 billion.

As part of the agreement, the parties have worked cooperatively to identify a list of final board nominees and expect to work together for Sempra Energy to appoint two new directors to the company’s board that are mutually agreed between the parties in the coming weeks.

Additionally, Sempra Energy will repurpose its board’s current LNG construction and technology committee into a new LNG and business development committee.

The new committee will consist of its three current members and, upon appointment to the Sempra Energy board, the two new directors.

The LNG and business development committee’s updated charter calls for it to work with management and the board in leading a comprehensive review of Sempra Energy’s businesses. The charter also allows the committee to retain its own independent consultants and advisors.

Sempra Energy intends to update the market on the results to date of the strategic review, including any actions to be taken, in the first quarter of 2019.

Elliott and Bluescape also have agreed to a customary standstill, voting and other provisions.

Share this article

Follow LNG World News

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Central and Eastern Europe SSLNG Forum

SSLNG projects are important for Central and Eastern Europe (CEE) because they offer opportunities for solving issues…

read more >

Klaipeda LNG Forum 2019

Klaipėda LNG forum 2019 organised by Klaipėda Science and Technology Park, Klaipėdos nafta and Embassy of the Netherlands will take place on the 15-16 May at Klaipėda Castle’s site hall, Lithuania.

read more >

Flame 2019

Flame is Europe’s largest gathering of midstream gas & LNG players, bringing together everyone who matters – from producers to utilities, purchasers, infrastructure providers, traders, regulators and policy makers.

 

More info

read more >