Home / Markets / Industries / Energy
Friday, November 06, 2009
AES to Sell Wind Power Stake To China Investment
By Darryl R. Isherwood
FOXBusiness
U.S. energy producer AES Corp. (AES) agreed to sell stock and a 35% stake in its wind power business to China Investment Corp. in an effort to raise cash for expansion.
CIC will purchase 125.5 million in new shares for $12.60, or $1.58 billion, and will buy the stake for an additional $571 million.
AES will need the approval of the Committee on Foreign Investment in the United States to close the stock sale.
