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News Breaks
June 25, 2014
16:32 EDTAESAES Corp. sells minority stake in Masinloc Power Plant to EGCO Group
The AES Corporation announced that it has entered into an agreement to sell 45% of its interest in Masin-AES Pte Ltd, a wholly-owned subsidiary of AES that owns AES’ business interests in the Philippines, to Electricity Generating Public Company Limited, a Thailand-based Independent Power Producer, for $453M. The sale includes indirect stakes in the following: the 630 MW Masinloc coal-fired power plant in operation since 1998; expansion of the existing Masinloc facility; and approximately 60 MW of potential energy storage projects in advanced development. After the sale, AES will own a 51% net stake in Masinloc, EGCO Group will own 41%, and the International Finance Corporation will retain 8%. AES will continue to manage and operate the plant. AES and EGCO Group have agreed to use the Masinloc platform as their exclusive vehicle for growth in the Philippines.
News For AES 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.

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