US EditionCouncilor Hart Concerned About AES, BlackRock Deal
- Indianapolis City-County Councilor Michael-Paul Hart expressed concern over AES's planned acquisition by a group including BlackRock and EQT Infrastructure VI, fearing private equity ownership may prioritize profits over service quality and cause rate increases.
- AES Corporation announced it would be acquired for $33.4 billion by global investors including BlackRock, California Public Employees Retirement System, and Qatar Investment Authority, with the deal expected to close in late 2026 or early 2027.
- AES Indiana and AES Ohio will continue as locally managed regulated utilities, and the company stated the acquisition is not expected to impact customer rates.
- Several Indiana leaders, including State Representative Cherrish Pryor and U.S. Representative André Carson, criticized the acquisition, expressing concerns about private equity ownership putting shareholder profits over public interest.
10 Articles
10 Articles
BlackRock-Linked Deal to Take AES Private Raises Concerns
Source: UCG / Getty AES, the parent company of AES Indiana, announced Monday that it has agreed to be acquired in a $33 billion deal by a consortium of domestic and international investors — a move that could take the company private as soon as this year. The announcement quickly raised concerns among some Indiana leaders. The group of buyers includes Global Infrastructure Partners, a New York–based subsidiary of BlackRock, along with the Infras…
Councilor Hart Concerned About AES, BlackRock Deal
Source: UCG / Getty INDIANAPOLIS — Indianapolis City-County Councilor Michael-Paul Hart has his concerns about AES potentially being bought out by the private equity firm, BlackRock. On Monday, the AES Corporation announced that it will be acquired by a consortium of global investors, including the EQT Infrastructure VI fund and Global Infrastructure Partners, which is a part of BlackRock. The California Public Employees’ Retirement System and t…
A consortium led by Global Infrastructure Partners (GIP), a subsidiary of BlackRock, along with the Swedish firm EQT, has agreed to acquire the US energy company AES Corporation for $10.7 billion. AES has a significant presence in the Dominican Republic's electricity system, where it operates power plants and a key natural gas terminal. The agreement sets a price of $15 per share for the acquisition of the company's equity. However, when AES's d…
Treasurer Raises Concerns Over Proposed AES Acquisition as Utility Scrutiny Grows
Indiana Treasurer Daniel Elliott is raising concerns about a proposed acquisition involving AES, the parent company of AES Indiana, by a consortium of global investment firms that includes BlackRock, EQT, the California Public Employees’ Retirement System (CalPERS), and the Qatari Investment Authority. In a statement released Tuesday, Elliott said he spent the previous 24 hours gathering information after learning of the reported deal and is inc…
The transaction, made in cash, is the last major announcement in an upward market for mergers and acquisitions of U.S. electricity and utilities companies, at a time when companies compete to position themselves in anticipation of the increase in demand driven by artificial intelligence. In Latin America, AES has operating subsidiaries with energy assets totalling about 10 GW. AES Corporation sells for $10.7 billion in cash in an operation that …
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