Deals
AES Plans Exit From $1 Billion Philippine Power Plant
- U.S. power producer selling remaining 51% interest in Masinloc
- AES sheds assets to cut debt, achieve investment-grade rating
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AES Corp. is seeking to sell its controlling stake in the Masinloc power plant in the Philippines in a deal that could value the project at more than $1 billion, people with knowledge of the matter said.
The U.S. electricity generator is working with advisers to gauge interest in its entire 51 percent interest in the 630-megawatt coal-fired power plant, according to the people, who asked not to be identified as the information is private.