AES Agrees to Sell Its Ukraine Assets
ARLINGTON, Va. -- February 1, 2013
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
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
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 www.aes.com.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of
the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such
forward-looking statements include, but are not limited to, those related to
future earnings, growth and financial and operating performance.
Forward-looking statements are not intended to be a guarantee of future
results, but instead constitute AES’ current expectations based on reasonable
assumptions. Forecasted financial information is based on certain material
assumptions. These assumptions include, but are not limited to, our accurate
projections of future interest rates, commodity price and foreign currency
pricing, continued normal levels of operating performance and electricity
volume at our distribution companies and operational performance at our
generation businesses consistent with historical levels, as well as
achievements of planned productivity improvements and incremental growth
investments at normalized investment levels and rates of return consistent
with prior experience.
Actual results could differ materially from those projected in our
forward-looking statements due to risks, uncertainties and other factors.
Important factors that could affect actual results are discussed in AES’
filings with the Securities and Exchange Commission, including, but not
limited to, the risks discussed under Item 1A “Risk Factors” in AES’ 2011
Annual Report on Form 10-K. Readers are encouraged to read AES’ filings to
learn more about the risk factors associated with AES’ business. AES
undertakes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Any Stockholder who desires a copy of the Company’s 2011 Annual Report on Form
10-K dated on or about February 24, 2012 with the SEC may obtain a copy
(excluding Exhibits) without charge by addressing a request to the Office of
the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard,
Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal
to the reproduction cost thereof will be made. A copy of the Form 10-K may be
obtained by visiting the Company’s website at www.aes.com.
The AES Corporation
Ahmed Pasha, 703-682-6451
Rich Bulger, 703-682-6318
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