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Monday, March 4, 2013

Sempra's Mexico unit to change name-filing, (NYSE: SRE)

The Mexican unit of U.S. energy company Sempra Energy, which is in the process of going public in Mexico, has agreed to change its name to Infraestructura Energetica Nova, according to a stock exchange filing published on Monday. The unit, which plans to list about 15 to 20 percent of its shares in Mexico, said shareholders agreed at a meeting on Friday to change its name.The filing did not give any more details.The company plans to sell shares through a private offering as well as an initial public offering in Mexico. The two offerings should close by April, according to previous filings made by the company.Mexico's government has said it plans to reform the country's energy sector, which is dominated by state oil monopoly Pemex.

Sempra Energy is a holding company. During the year ended December 31, 2011, Sempra Energy?s business was organized in five segments: San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas), Sempra Generation, Sempra Pipelines & Storage and Sempra LNG (liquefied natural gas). Shares of SRE traded higher by 0.68% or $0.53/share to $78.98. In the past year, the shares have traded as low as $57.76 and as high as $78.48. On average, 995239 shares of SRE exchange hands on a given day and today's volume is recorded at 1122098.