AES Corp (AES) Reports $1.58B Binding Stock Purchase Agreement
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The AES Corporation (NYSE: AES) today announced a binding stock purchase agreement with a wholly-owned investment subsidiary of China Investment Corporation (CIC) to raise $1.58 billion of new equity to fund growth opportunities and extend its global leadership in the power sector. At close, CIC will acquire 125.5 million shares of AES stock for $12.60 per share for an approximate 15 percent stake in the company. AES also announced the signing of a letter of intent with CIC to raise an additional $571 million of equity for an approximate 35 percent interest in its wind generation business.
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