Caisse de dépôt to take 30 pct stake in U.S. utility holding company
The Caisse de dépôt et placement du Québec has agreed to buy 15 percent of a subsidiary of AES Corp (NYSE: AES) that owns 100 percent of IPALCO Enterprises Inc, a U.S. utility holding company. The acquisition price is US$244 million. The Caisse also plans to invest around US$349 million in IPALCO through 2016, in exchange for a 17.65 percent equity stake. Proceeds will fund current growth and environmental projects at Indianapolis Power & Light Co. Following the close of the deals, expected in the first half of 2015, the Caisse will have direct and indirect interests in IPALCO totaling 30 percent.
15 December 2014•5 mins read
