State Grid Corporation of China, a power utility corporation, agreed to acquire Chilquinta Energia, a company that provides installation, transmission, maintenance and distribution of electricity and natural gas, and a 83.6% stake in Luz del Sur, a company that generates and distributes electricity to civil, industrial, and commercial customers, from Sempra Energy, an energy infrastructure company, for $5.8bn. The sale is expected to be completed in the first quarter of 2020, subject to customary closing conditions, including approval by the Peruvian anti-trust authority and the Bermuda Monetary Authority, and to customary closing conditions, including approval by the Chilean anti-trust authority, certain Chinese regulatory approvals and approval by the Bermuda Monetary Authority. "We have set a clear strategic goal of becoming North America's premier energy infrastructure company. This planned sale allows us more focused capital investment in the U.S. and Mexico to support additional growth opportunities, with a view toward creating greater shareholder value and a stronger balance sheet," Jeffrey W. Martin, Sempra Energy Chairman and CEO.