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Sempra Won't Form Master-Limited Partnership Amid Market Rout

  • CEO says conditions for going public are ``not ideal"
  • Company had planned to offer shares by the end of this year

Sempra Energy backtracked on plans to form a master-limited partnership that would own stakes in its natural gas and renewable energy assets amid a sell-off in the investment vehicles.

"Current market conditions are not ideal and we will not go forward at this time," Chief Executive Officer Debra Reed said on Tuesday during a conference call with investors. The company will re-evaluate the prospects for creating a tax-advantaged partnership in the "middle of next year," she added.