AES Draws $10.7 Billion Buyout from BlackRock’s GIP and EQT

Group 1 - BlackRock's Global Infrastructure Partners and EQT AB have agreed to acquire The AES Corporation in a cash deal valued at approximately $10.7 billion, driven by rising demand for power producers supplying electricity to energy-intensive AI data centers [1][3] - The buyers will pay $15 per share for AES, which gives the company an enterprise value of about $33.4 billion, representing a 40% premium to the stock's 30-day volume-weighted average price prior to the sale speculation [2] - AES has existing agreements to supply renewable power to major tech companies, including Google, Microsoft, and Amazon, highlighting the increasing value of power developers in the context of expanding AI data centers [3] Group 2 - AES had considered other options before agreeing to the acquisition, including eliminating dividends and issuing equity to support its power project pipeline, with the expectation that going private would enhance financial flexibility and capital access [4] - The acquisition process involved several months of competition between Global Infrastructure Partners and EQT, who ultimately decided to collaborate on the deal, with JPMorgan Chase and Wells Fargo advising AES [5] - The AES Corporation operates through four segments: Renewables, Utilities, Energy Infrastructure, and New Energy Technologies, with its Renewables segment encompassing solar, wind, energy storage, and hydro generation facilities [6]