Deal expected to close in H1 2025 (Il Sole 24 Ore Radiocor) - Arlington , 17 Sep - The US utility AES said it has reached an agreement to sell a 30% indirect equity interest in AES Ohio to Canadian investment group CDPQ, for about 546 million US dollars.

AES noted that this agreement expands upon its existing partnership with CDPQ at AES Indiana and creates a similar ownership structure for the two utilities, with no change in management or operational control of AES Ohio. "CDPQ's partnership with AES, now in both US utilities, will bring continued funding to support the high growth ahead," AES said.

The deal is subject to regulatory approvals, including from the Public Utilities Commission of Ohio, the Federal Energy Regulatory Commission and the Committee on Foreign Investments in the United States, and is expected to close in the first half of 2025.

With this sale, AES said it will have achieved over 2.7 billion US dollars of its 3.5 billion asset sale target for 2023 through 2027.

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(RADIOCOR) 17-09-24 15:55:09 (0552) 5 NNNN