AES Stockholders Approve $10.7 Billion Acquisition by Consortium
With 97.92% of votes cast in favor, shareholders of The AES Corporation have cleared the path for a $10.7 billion buyout by a consortium led by Global Infrastructure Partners and EQT. The deal, which values the energy giant at $33.4 billion including debt, marks a pivotal shift for the Arlington-based utility.
The merger agreement grants AES stockholders $15.00 per share in cash, a move that leadership frames as a necessary step to accelerate growth. Joining the lead investors are the California Public Employees' Retirement System (CalPERS) and the Qatar Investment Authority (QIA), providing a massive capital backing for the company’s future infrastructure projects.
Andrés Gluski, Chairman and CEO of AES, noted that the partnership will allow the firm to scale its clean energy and utility platforms more aggressively. Holly Koeppel, lead independent director, emphasized that the transaction enhances long-term value by providing the company with the flexibility to navigate shifting energy demands. The acquisition is currently expected to close between late 2026 and early 2027, pending standard regulatory reviews and the satisfaction of closing conditions.
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