The AES Corporation has entered into a definitive merger agreement to be acquired by a consortium led by Global Infrastructure Partners (GIP) and EQT Infrastructure VI fund, with CalPERS and Qatar Investment Authority as co-underwriters. AES stockholders will receive $15.00 per share in cash, representing a total equity value of approximately $10.7 billion and an enterprise value of approximately $33.4 billion, including assumed debt. The acquisition price represents a 40.3% premium to AES's 30-day volume weighted average share price prior to July 8, 2025, the last full day of trading before media reports of a potential acquisition. The transaction is 100% equity-financed by the Consortium, with no financing contingency, and is expected to close in late 2026 or early 2027, subject to stockholder and regulatory approvals. Ricardo Fal has been appointed President of the Company, effective March 2, 2026, with an annual base salary of $950,000 and significant incentive opportunities. Juan Ignacio Rubiolo has been appointed Executive Vice President and Chief Operating Officer, and President of the Energy Infrastructure SBU, effective March 2, 2026, with an annual base salary of $700,000 and incentive opportunities. Andrs Gluski will continue to serve as Chief Executive Officer and a member of the Board, relinquishing the President role.