“This transaction will better position AES to drive long-term growth across its business units, including regulated electric utilities and competitive clean energy in the U.S. and critical energy infrastructure assets in Latin America,” AES said in a release Monday.
The group has “deep experience investing in energy infrastructure businesses and shares AES’ commitment to safety, affordability and customer service.
“AES will have improved access to capital to invest in critical energy infrastructure assets, deliver reliable energy solutions for its customers and create long-term value for all stakeholders, including its workforce and local communities,” the company said.
A message seeking comment was left with a representative of AES Ohio.
In 2011, AES completed a merger to absorb DPL Inc., then the parent company of the Dayton area’s primary electric utility.
The merger made DPL a wholly owned subsidiary of AES, a Fortune 200 company that at the time had electricity-generating and distribution operations on five continents.
The approximately $4.7 billion deal ended what had been the 100-year existence of DPL-owned Dayton Power and Light Co. as an independent company.
Nearly a decade later, the utility rebranded as “AES Ohio.”
AES Ohio serves some 527,000 customer accounts, representing 1.25 million people in West Central Ohio.
“Over the course of our 45-year history of powering industries and shaping the future of energy, AES has built a diverse portfolio to meet the evolving power needs of our customers and communities,” AES President and CEO Andrés Gluski said in a statement. “We believe this transaction maximizes value for existing stockholders and positions the company for long-term success as we continue delivering on our commitments to customers, communities and people.”
Shares of AES Corp. (NYSE: AES) were down six cents in mid-day trading Tuesday, trading at about $14.15 a share.
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