GIP and EQT-led consortium agree to acquire AES for $33.4bn

Group 1 - A consortium led by BlackRock's Global Infrastructure Partners and EQT Infrastructure VI fund has signed an agreement to acquire AES Corporation for an enterprise value of approximately $33.4 billion [1] - The acquisition values AES at $15 per share in cash, totaling an equity value of $10.7 billion, and includes the assumption of existing debt [1] - The consortium will fund the entire purchase with equity, and upon completion, AES will become a privately held company, ceasing to trade on the New York Stock Exchange [2] Group 2 - The acquisition has received unanimous approval from AES' Board of Directors and is expected to conclude in late 2026 or early 2027, pending shareholder approval and regulatory clearance [2] - AES' regulated utilities in Indiana and Ohio will remain locally managed and operate under existing regulatory oversight, with no anticipated changes to customer rates as a result of the transaction [3] - AES supplies clean energy globally, with 11.8 GW of signed power agreements, including contracts with major technology companies [4] Group 3 - AES president and CEO stated that the transaction maximizes value for existing stockholders and positions the company for long-term success [4] - J.P. Morgan Securities and Wells Fargo Securities are advising AES on financial matters related to the deal, while various legal advisors are involved for both AES and the consortium [5]