Private equity firms to buy AES Ohio in new $33B deal

A group of private equity firms, led by Global Infrastructure Partners and EQT, has agreed to acquire AES Corp. for $33.4 billion, which includes AES Ohio and AES Indiana. This acquisition will transition AES from a publicly traded company to a privately held one, raising concerns from the Ohio Consumers’ Counsel about potential implications for transparency, financial incentives, and electricity rates for consumers. The deal is expected to finalize later this year or early next year, pending regulatory and shareholder approvals.