“The Philippines continues to experience robust economic growth, resulting in increasing demand for energy, which creates a great opportunity for companies like AES and EGCO to meet these needs by providing safe, reliable and affordable energy,” said Scott Kicker, President of AES’ Asia SBU. “With this strategic partnership, we look forward to pursuing growth opportunities that will help meet the country’s growing demand for energy.”This transaction is expected to close in the third quarter of 2014. AES expects to invest the proceeds, after any closing price adjustments, in a credit neutral manner consistent with its capital allocation framework. The transaction is expected to be earnings neutral in 2014 and beyond.
AES Sells Minority Stake In Masinloc Power Plant And Development Projects In The Philippines To EGCO Group For $453 Million
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