The AES Corporation (NYSE: AES) today announced that it has agreed to sell its two power distribution businesses in Ukraine to VS Energy International. Under the agreement, AES will sell its 89.12 percent equity interest in AES Kyivoblenergo, which serves 881,000 customers in the Kiev region, and its 84.56 percent equity interest in AES Rivneoblenergo, which serves 412,000 customers in the Rivne region.
“We continue to exit markets that are not part of our strategic vision,” said Tom O’Flynn, AES Executive Vice President and Chief Financial Officer. “This transaction represents another step in the process to simplify our structure so we can focus on creating value in markets where we have a compelling competitive advantage.”
The transaction is expected to close by mid-2013 and is subject to local regulatory approval. Both AES Kyivoblenergo and AES Rivneoblenergo will continue operations, supplying energy to customers and working constructively with all stakeholders. AES plans to provide additional detail on the transaction in its fourth quarter 2012 earnings call materials and 10-K filing.
The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 27 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 27,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2011 revenues were $17 billion and we own and manage $45 billion in total assets. To learn more, please visit
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