BlackRock (NYSE:BLK)-owned Global Infrastructure Partners (GIP) is close to sealing a $38 billion deal to acquire U.S. utility group AES Corp (NYSE:AES), in what would rank among the largest infrastructure takeovers on record, the Financial Times reported on Tuesday.
Citing people briefed on the matter, the FT said GIP could announce the acquisition within days, though talks remain subject to change.
The deal would value AES at around $38 billion, including its $29 billion in debt, giving it an enterprise value far above its current $9.4 billion market capitalisation, the report stated.
Shares in AES surged more than 16% to $15.35 in post-market trading on Tuesday. The stock has fallen more than 30% over the past year as investors soured on its renewable energy investments following the rollback of green tax credits under President Donald Trump.
AES operates power plants in the U.S. and 13 other countries and has invested heavily in renewable grids powering data centres for Microsoft (NASDAQ:MSFT), Meta (NASDAQ:META), and Alphabet (NASDAQ:GOOGL).
Source :
https://www.investing.com/news/stock-market-news/blackrocks-gip-nears-38-bln-deal-to-acquire-aes-corp-shares-surge--ft-4264935
