US EditionBlackRock's GIP and EQT to buy AES Corp in $33.4 billion deal
The $33.4 billion acquisition by a BlackRock-led consortium offers AES improved capital access to support growth and maintain dividends, with a 40.3% premium on share price, consortium said.
- On March 2, 2026, GIP-led consortium agreed to acquire AES for $15.00 per share, implying $10.7 billion equity and $33.4 billion enterprise value, with AES going private.
- Facing large near-term capital needs, AES concluded funding growth beyond 2027 requires avoiding dividend cuts or large equity raises, while the Consortium said private ownership enables enhanced financial flexibility.
- Consolidated net debt was $27,561 million as of December 31, 2025, with proportional net debt of $22,724 million and a share count of 712 million.
- After the announcement, AES cancelled its conference call for Tuesday, March 3, 2026, and will file its 2025 Form 10-K today; dividends payable to AES stockholders are expected to continue until closing, subject to AES Board of Directors approval.
- The transaction positions AES to accelerate growth across the Americas, with AES' U.S. customer base of 1.1 million expected to benefit from planned investments, supported by GIP's over $193 billion platform and EQT's EUR 270 billion AUM.
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A consortium led by the US BlackRock fund and the Swedish EQT announced this Monday that they will buy the US electricity and utilities company AES Corporation for US$10.7 billion. According to the statement of the operation, BlackRock will participate in the same one by the hand of Global Infrastructure Partners (GIP) and EQT through EQT Infrastructure VI Fund. Likewise, they will intervene the California civil servants pension fund (Calpers) a…
AES expected to turn private following purchase of company by consortium
INDIANAPOLIS -- A consortium has agreed to purchase AES Indiana and Ohio, according to a news release, transitioning the company to a private one. Officials said they believe this will provide the utility company with enhanced financial flexibility in the future. According to a news release, a consortium led by Global Infrastructure Partners and EQT [...]
AES to be bought by global investor consortium, taking company private
INDIANAPOLIS (WISH) — The AES Corporation announced Monday that it will be acquired by a consortium of global investors, according to a press release. The consortium includes Global Infrastructure Partners, a part of BlackRock, and the EQT Infrastructure VI fund. Two underwriters of the deal, the California Public Employees’ Retirement System and the Qatar Investment Authority, are also part of the purchasing group. The deal values the energy co…
BlackRock’s GIP and EQT to Buy AES for $10.7 Billion
BlackRock Inc.’s Global Infrastructure Partners LP and EQT AB agreed to buy AES Corp. for about $10.7 billion in cash as the market heats up for power plant developers that can provide electricity for energy-hungry AI data centers.
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