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Stock Market & Financial Investment News

News Breaks
December 6, 2012
18:56 EDTPH, AESAES Corp. selects Mitsubishi-GS Yuaa and Parker-Hannifin to suply energy storage
AES Gener and AES Energy Storage (AES) announced the selection of Parker-Hannifin (PH) to supply advanced battery energy storage systems for their new Cochrane power station. The battery energy storage system will be supplied by Mitsubishi Corporation with the lithium ion battery module manufactured by GS Yuasa and the lithium ion battery cells by Lithium Energy Japan, a joint venture of Mitsubishi Corporation and GS Yuasa. The project is the companies' third energy storage facility in Northern Chile, integrating 20MW of advanced battery-based energy storage with a 532MW thermal power plant. The project is owned by AES Gener, the second largest power generator in the country, and Mitsubishi Corporation.
News For AES;PH From The Last 14 Days
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December 15, 2014
16:32 EDTAESAES Corp. names Bernerd Da Santos as COO
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07:13 EDTAESAES Corp. agrees to sell minority interest in IPALCO Enterprises for $244M
The AES Corporation has entered into an agreement with La Caisse de dépôt et placement du Québec, a long-term institutional investor headquartered in Quebec, Canada. Pursuant to the agreement, CDPQ will purchase 15% of AES US Investments, Inc., a wholly-owned subsidiary of AES that owns 100% of IPALCO Enterprises, Inc, for $244M. In addition, CDPQ will invest approximately US$349 million in IPALCO through 2016, in exchange for a 17.65% equity stake, funding existing growth and environmental projects at Indianapolis Power & Light Company. After completion of these transactions, CDPQ’s direct and indirect interests in IPALCO will total 30%, AES will own 85% of AES US Investments, and AES US Investments will own 82.35% of IPALCO. There will be no change in management or operational control of AES US Investments or IPALCO as a result of these transactions. AES expects these transactions to be modestly accretive to Adjusted EPS based on reduced equity commitments from AES to fund existing growth and environmental projects at IPL and the initial cash investment by CDPQ, which AES will invest in line with its stated capital allocation framework. Subject to customary regulatory approvals, including from the Federal Energy Regulatory Commission and the Committee on Foreign Investments in the United States, these transactions are expected to close in first half 2015.
07:06 EDTAESAES Corp. raises quarterly dividend to 10c per share from 5c
The Board of Directors of The AES Corporation approved a 100% increase in the company’s quarterly common stock dividend, to 10c per share from 5c per share. The Board of Directors will continue to review the dividend on an annual basis. The company expects the dividend to grow at an approximate 10% annual rate, consistent with Parent Free Cash Flow growth of 10% to 15% per year on average through 2018. The Board of Directors declared a quarterly common stock dividend of 10c per share payable on February 17, 2015, to shareholders of record at the close of business on February 3, 2015.
December 4, 2014
07:13 EDTPHParker Aerospace signs long-term agreement with Singapore Airlines
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December 3, 2014
11:01 EDTPHFAA proposes $160K civil penalty against Parker-Hannifin
The U.S. Department of Transportation’s Federal Aviation Administration is proposing a $160,500 civil penalty against the Parker Hannifin Corp. of Irvine, Calif., for allegedly violating drug and alcohol testing regulations. The FAA alleges the aircraft repair station hired two people for safety-sensitive positions before conducting pre-employment drug tests and receiving verified negative test results. Additionally, the company transferred an employee into a safety-sensitive position before conducting such a test and receiving a negative result, the FAA alleges. Parker Hannifin has until late December to respond to the allegations.

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