The AES Corporation, a US-based power generation and energy infrastructure company, has entered a definitive agreement to be acquired for $15.00 per share in cash. The consortium led by Global Infrastructure Partners and EQT has agreed to the transaction, which represents a total equity value of $10.7 billion. The implied enterprise value is approximately $33.4 billion, including the assumption of existing debt obligations. The valuation has been calculated using proportional net debt of $22,724 million and 712 million shares outstanding as of December 31, 2025, while consolidated net debt was $27,561 million. The $15 per share consideration reflects a 40.3% premium to the 30-day volume weighted average share price prior to July 8, 2025, and the transaction is expected to close in late 2026 or early 2027, subject to required approvals. Once the acquisition transaction is completed, AES will become a privately held company.