China Investment Strikes $1.6B Deal For Stake In AES

Law360, New York (November 6, 2009, 2:53 PM EST) -- A wholly owned investment subsidiary of China Investment Corp. has entered a $1.58 billion stock purchase agreement with global power company AES Corp., acquiring a roughly 15 percent equity interest in the company, the parties announced Friday.

At close, CIC will acquire 125.5 million shares of AES stock for $12.60 per share for about a 15 percent stake in the company, AES said in a statement.

AES and CIC also signed a letter of intent to raise an additional $571 million of equity for an approximate...
To view the full article, register now.