Recent Updates — AES
The European Commission closed its preliminary review of the proposed merger between The AES Corporation and Horizon Parent, L.P., granting approval under the EU Foreign Subsidies Regulation. This regulatory clearance is a condition to closing the transaction, which remains subject to additional approvals and customary conditions. Upon completion, AES will be jointly owned by investment vehicles affiliated with Global Infrastructure Management, LLC and the EQT Infrastructure VI fund. The company operates in the electric power industry.
The European Commission unconditionally approved the proposed merger between The AES Corporation and Horizon Parent, L.P., under the EU Merger Regulation. Additionally, the New York Public Service Commission issued a declaratory ruling that the transaction requires no further review under state law. These regulatory clearances satisfy specific conditions to closing for the merger, which remains subject to other customary closing conditions and additional approvals. Upon completion, AES will be jointly owned by investment vehicles affiliated with Global Infrastructure Management, LLC and the EQT Infrastructure VI fund. The AES Corporation operates in the electric power industry.
The AES Corporation announced that the Public Utilities Commission of Ohio issued an order approving its previously disclosed merger with Horizon Parent, L.P., on September 17, 2026. This regulatory approval is a condition to closing the transaction, which remains subject to additional regulatory approvals and customary conditions. Upon completion, AES will be jointly owned by investment vehicles affiliated with Global Infrastructure Management, LLC and the EQT Infrastructure VI fund. The AES Corporation operates in the electric power generation industry.
The AES Corporation announced that Bernerd Da Santos will depart from his position as Chairman of the AES Clean Energy Board and Senior Strategic Advisor to the President, effective September 14, 2026. Mr. Da Santos has accepted a role as Executive Vice President and Chief Operating Officer at Fluence Energy, Inc. His departure is governed by a Separation Agreement entitling him to involuntary severance pay under the Company's Executive Severance Plan, calculated as one times his annualized base salary plus annual target bonus for fiscal year 2026, along with a pro-rata bonus based on target performance and applicable retirement benefits. The AES Corporation operates in the electric power industry.
The AES Corporation received CFIUS Approval on August 27, 2026, satisfying a key condition for its proposed merger with Horizon Parent, L.P. announced in March 2026. The transaction remains subject to additional regulatory approvals and customary closing conditions. Upon completion, the company will be jointly owned by investment vehicles affiliated with Global Infrastructure Management, LLC and the EQT Infrastructure VI fund. AES operates in the electric power industry.
The AES Corporation entered into Amendment No. 3 to its Citibank credit agreement and the Second Amendment to its Sumitomo Mitsui Banking Corporation credit agreement on August 5, 2026. These amendments extend the termination dates for revolving commitments under both facilities by one year: from August 23, 2027 to August 23, 2028 for the Citi facility and from December 6, 2026 to December 6, 2027 for the SMBC facility. All other terms remain unchanged. The company operates in the electric power generation industry.