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AcquisitionMar 2, 2026Pending
🇺🇸 United States

The AES CorporationConsortium led by Global Infrastructure Partners (a part of BlackRock) and EQT Infrastructure VI fund, with co-underwriters CalPERS and Qatar Investment Authority

Power & Utilities › Independent Power & Renewables

Equity value$10.7BEquity value
View SEC filing Save
AnnouncedMar 2, 2026
ConsiderationCash
StructureOne-step merger
RegionNorth America
Cross-borderUnknown
Contingent paymentNo

Overview

A consortium led by Global Infrastructure Partners (BlackRock) and EQT Infrastructure VI, with CalPERS and QIA, agreed to acquire AES for $15.00 per share in cash, taking it private.

Deal rationale

The AES board concluded the deal maximizes stockholder value and addresses AES' significant capital needs for growth beyond 2027 without cutting the dividend or issuing substantial new equity.

AI-generated from the SEC filing
PendingPower & Utilities › Independent Power & RenewablesUnited StatesNorth America

Timeline

  1. AnnouncedMar 2, 2026

    Imported from prototype record 176, unverified

    Filing
  2. Regulatory clearanceJun 22, 2026

    HSR waiting period expired or ended.

    Filing
  3. Shareholder vote · ApprovedJun 26, 2026

    Target shareholders approved the deal.

    Filing
  4. Regulatory clearanceAug 27, 2026

    CFIUS clearance.

    Filing
  5. Regulatory clearanceSep 17, 2026

    Regulatory approval.

    Filing

Valuation and terms

Equity value$10.7BHeadline figure
Enterprise value$33.4B
ConsiderationCash

Advisors

Buy-side
CCitiGSGoldman Sachs
Sell-side
JPJ.P. MorganWFWells Fargo

Parties

Target
The AES Corporation
Headquarters
United States
Ticker
AES
EDGAR company page
Acquirer
Consortium led by Global Infrastructure Partners (a part of BlackRock) and EQT Infrastructure VI fund, with co-underwriters CalPERS and Qatar Investment Authority
Headquarters
—
Ticker
—