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Stock Market & Financial Investment News

News Breaks
December 13, 2013
07:11 EDTAESAES announces pricing for 20M share repurchase
AES announced pricing for the repurchase of 20M shares of its common stock from Terrific Investment, a subsidiary controlled by China Investment, for approximately $258M at $12.912 per share. Additionally, the company’s previously announced secondary public offering of 40M shares of its common stock, offered to the public by the Selling Stockholder, priced at $13.45 per share. AES will not receive any of the proceeds from the offering. The selling stockholder has granted to the underwriters an option to purchase up to 6M additional shares at the public offering price, less the underwriting discount, to cover over-allotments, if any, for a period of 30 days from December 12. The offering and the repurchase are expected to close on or about December 18, subject to customary closing conditions. The closing of the repurchase is contingent on the closing of the offering and the satisfaction of certain other customary conditions. The closing of the offering is not contingent on the closing of the repurchase.
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