Overview
- A consortium led by Global Infrastructure Partners, part of BlackRock, and EQT agreed to acquire AES for $15 per share in cash, valuing equity at about $10.7 billion and the enterprise at roughly $33.4 billion.
- Co‑investors include the California Public Employees’ Retirement System and the Qatar Investment Authority, with AES’s board unanimously approving the transaction.
- The deal requires a shareholder vote and multiple U.S. and foreign regulatory approvals, with closing targeted for late 2026 or early 2027.
- AES says its utilities in Indiana and Ohio will remain locally managed and regulated, and the acquisition is not expected to affect customer rates.
- Shares fell about 17% following the announcement, and Indiana officials voiced concerns over private ownership as the company and investors cite rising power demand from data centers as a key driver for the deal.