AES has cleared a European Union review required for its proposed sale to a group led by Global Infrastructure Partners and EQT. The European Commission closed its preliminary review under the EU Foreign Subsidies Regulation on October 28, satisfying one condition to the transaction.
The deal is not yet complete. It still requires additional regulatory approvals and must meet other customary closing conditions. If it closes, AES will remain the surviving company but become jointly owned by investment vehicles affiliated with Global Infrastructure Partners, EQT Infrastructure VI and other investors.
Key details
- AES agreed to the transaction on March 1, 2026, with Horizon Parent, an entity formed for the deal.
- The European Commission’s review concerned whether foreign subsidies could distort competition in the EU. Its closure satisfies a specified closing condition.
- Other regulatory approvals and customary conditions remain outstanding. No closing date was provided in this announcement.
- At closing, AES would be jointly owned by investment vehicles affiliated with Global Infrastructure Partners, EQT Infrastructure VI and other investors.
What changes for investors
The EU review removes one regulatory hurdle, but the transaction remains subject to further approvals and closing conditions. If completed, AES would move to joint ownership by the investor group; the announcement did not provide new details on the transaction’s price or the consideration for shareholders.