AES Corporation Acquired for $10.7 Billion

By Chris Stiles • Monday, March 02 10:59 • Permanent Link

The AES Corporation (NYSE: AES) has announced that a consortium led by Global Infrastructure Partners (GIP), a part of BlackRock, and the EQT Infrastructure VI Fund (EQT), along with co-underwriters California Public Employees’ Retirement System (CalPERS) and Qatar Investment Authority (QIA), has entered into a definitive agreement to acquire AES for $15.00 per share in cash. This represents a total equity value of $10.7 billion and an enterprise value of approximately $33.4 billion, including the assumption of existing debt. The transaction represents a 40.3% premium to the 30-day volume weighted average share price prior to July 8, 2025.

The acquisition is expected to provide AES with increased financial flexibility as a private company to advance its strategy and meet the needs of its customers and communities with reliable, affordable, and sustainable energy solutions. It will address AES’ significant need for capital to support its growth beyond 2027, with the absence of this transaction potentially requiring a reduction or elimination of the dividend and/or significant new equity issuances.

The transaction is expected to close in late 2026 or early 2027 and is not expected to impact customer rates in AES’ regulated utilities, including AES Indiana and AES Ohio, which will continue to be regulated by local, state, and federal/national authorities.

As a result of the announcement, AES has cancelled its previously announced conference call to discuss its fourth quarter and full year 2025 financial results, which had been rescheduled for Tuesday, March 3, 2026, at 10:00 a.m. ET. The company expects to file its 2025 annual report on Form 10-K today.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC provided fairness opinions to AES, and the transaction was unanimously approved by AES’ board of directors. Upon completion of the acquisition, AES common stock will no longer trade on the New York Stock Exchange, and AES will become a private company.

The AES Corporation is a Fortune 500 global energy company with a diverse workforce committed to continuous innovation and operational excellence, aiming to accelerate the future of energy and deliver greener, smarter energy solutions. As a result of these announcements, the company's shares have moved -1.73% on the market, and are now trading at a price of $14.19. For more information, read the company's full 8-K submission here.

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