FreeTheAI

AES Corp. Secures EU Approval for $10.7 Billion Sale to GIM and EQT

BullishHigh impact
AES$14.95 −0.13%BLK$1,134.38 1.21%

AES Corporation (NYSE:AES) has secured European Union antitrust approval for its proposed sale to a consortium led by Global Infrastructure Management and EQT Infrastructure. Regulators determined that the transaction will not raise competition concerns because of the companies' limited market positions.

The approval represents a key milestone for the all-cash transaction, which values AES Corporation at $15 per share, or approximately $10.7 billion in equity value and $33.4 billion in enterprise value including debt. The purchasing consortium is led by Global Infrastructure Management—a unit of BlackRock, Inc. (NYSE:BLK)—and EQT Infrastructure, alongside co-underwriters California Public Employees Retirement System and Qatar Investment Authority.

The European decision follows prior regulatory clearances from the Committee on Foreign Investment in the United States in August and the Public Utilities Commission of Ohio in September. Investors will be monitoring any remaining regulatory steps as shares of AES Corporation trade close to the buyout offer at $14.93.

Key points

  • The European Union approved AES Corporation's sale to Global Infrastructure Management and EQT Infrastructure after finding no competition concerns.
  • The buyout is structured as an all-cash deal at $15 per share, valuing AES Corporation at $10.7 billion in equity and $33.4 billion in enterprise value.
  • Co-underwriters involved in the deal include BlackRock, Inc., the California Public Employees Retirement System, and the Qatar Investment Authority.
  • AES Corporation previously secured regulatory approvals from CFIUS in August and the Public Utilities Commission of Ohio in September.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

How we writeDisclaimer

Questions and answers

What is the buyout price per share for AES Corporation?

AES Corporation agreed to be acquired for $15 per share in cash, representing an equity value of $10.7 billion and an enterprise value of approximately $33.4 billion including debt.

Who is acquiring AES Corporation?

A consortium led by Global Infrastructure Management and EQT Infrastructure, along with BlackRock, Inc., the California Public Employees Retirement System, and the Qatar Investment Authority.

Which regulatory approvals has AES Corporation received for the deal?

AES Corporation has received regulatory clearances from the European Union, the Committee on Foreign Investment in the United States, and the Public Utilities Commission of Ohio.