BlackRock's GIP, EQT close to acquiring AES Corp, Bloomberg News reports
Feb 27 (Reuters) - BlackRock-owned BLK.N Global Infrastructure Partners and equity firm EQT AB EQTAB.ST are in advanced talks to acquire U.S.-based utility AES Corp AES.N, Bloomberg News reported on Friday, citing people familiar with the matter.
AES shares rose 6.7% in morning trading. The market value of AES stands at around $11.57 billion.
The deal could be announced as soon as next week, the report said, adding that the final agreement has not been reached and details including the valuation and timing could still change.
EQT AB declined to comment on the potential acquisition, when contacted by Reuters. GIP and AES did not immediately respond.
With data-center demand straining electrical grids and lifting long-term power needs, investors are racing to secure large, reliable generation portfolios.
AES on Friday rescheduled its fourth quarter and full-year earnings for March 3.
