Companies involved in the take private initiative include EQT Group and BlackRock-owned (BLK) Global Infrastructure Partners.
The consortium, which also includes the Qatar Investment Authority and the California Public Employees’ Retirement System, will pay $15 U.S. a share for AES.
The all-cash deal has an enterprise value of $33.40 billion U.S. AES is the world’s largest supplier of clean energy to corporations.
AES stock fell 17% to $14.41 U.S. a share in premarket trading as the price to take the company private is below the $17.28 U.S. that the stock closed at on Feb. 27.
AES stock surged last year on media reports that Global Infrastructure Partners was nearing a potential $38 billion U.S. buyout.
The $15 U.S. per share price was a premium to AES’ share price last July, when reports of a take private deal first surfaced, but a discount to the stock’s most recent closing price.
Over the past five years, AES stock had declined 34% as it struggled with the transition to clean and renewable sources of energy.
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