Chavez Takes Over AES-Owned Utility
Under the agreement, AES will sell its 82% stake in Electricidad de Caracas to the state oil company, Petroleos de Venezuela SA, for $739.3 million. Any minority shareholders will then either hold onto their stock or sell it to PDVSA for equal or better terms than what AES received, the government said.
“The deal respects the interests of both parties,...
To view the full article, register now.