BlackRock consortium to buy utility AES in $33.4 billion deal, shares plunge

The AES

02/03/2026 14:50

Updates

** Shares of power utility AES Corp AES.N down 17.2% at $14.31, their lowest in more than a month

** Stock on track for biggest one-day percentage decline since March 2020 if losses hold

** Consortium led by BlackRock-owned BLK.N Global Infrastructure Partners and equity firm EQT AB EQTAB.ST agree to acquire AES in $33.4 billion deal, including debt

** The consortium will acquire AES for $15 per share in cash, representing total equity value of $10.7 billion

** Transaction expected to close in late 2026 or early 2027

** AES down marginally YTD

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))