AES agrees to $10.7 billion private equity buyout

AES ( (AES) ) has shared an update.

On March 1, 2026, AES agreed to be acquired by a consortium led by Global Infrastructure Partners and EQT Infrastructure VI, with co-underwriters CalPERS and Qatar Investment Authority, in an all-cash merger valuing AES equity at $10.7 billion, or $15 per share, a 40.3% premium to its 30-day VWAP before July 8, 2025. The deal, unanimously approved by AES’ board and expected to close in late 2026 or early 2027 subject to shareholder and regulatory approvals, is designed to address AES’ substantial post-2027 capital needs while preserving dividends until closing and maintaining AES Indiana and AES Ohio as locally operated regulated utilities.

The consortium plans to fund the purchase entirely with equity, maintain an investment-grade profile and keep customer rates at regulated utilities unaffected, while giving AES greater financial flexibility as a private company to accelerate investments in clean energy, grid and generation assets across the Americas. Concurrently, AES announced leadership changes effective March 2, 2026, naming long-time executive Ricardo Falú as president, with a $950,000 base salary and performance-linked incentives, and appointing veteran AES leader Juan Ignacio Rubiolo as executive vice president and chief operating officer, reinforcing management continuity as the company transitions to private ownership.

The most recent analyst rating on (AES) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on AES stock, see the AES Stock Forecast page.

Spark’s Take on AES Stock

According to Spark, TipRanks’ AI Analyst, AES is a Neutral.

The score is held back primarily by high leverage and negative free cash flow despite strong revenue growth. Offsetting factors include an attractive valuation (low P/E and high dividend yield), constructive technical trend, and a positive earnings-call outlook with reaffirmed guidance and strong renewables/PPA pipeline, tempered by the recent impairment event.

To see Spark’s full report on AES stock, click here.

More about AES

The AES Corporation is a global power company operating regulated electric utilities in Indiana and Ohio, competitive clean energy businesses in the U.S., and critical energy infrastructure assets across Latin America. It has built one of the industry’s largest clean energy development pipelines and is the largest supplier of clean power to corporations worldwide, including major technology firms, underscoring its role as a leading clean energy platform in the Americas.

Average Trading Volume: 8,877,629

Technical Sentiment Signal: Buy

Current Market Cap: $12.31B

For an in-depth examination of AES stock, go to TipRanks’ Overview page.