AES Selling Ukrainian Assets

On Friday, electricity generator and distributor AES (NYSE: AES  ) announced its exit from the Ukrainian power market. The company has agreed to sell its majority interests in two local power distribution businesses, AES Kyivoblenergo and AES Rivneoblenergo, to Netherlands-based VS Energy International.

In a statement, AES characterized its move as an exit from a market that was "not part of our strategic vision" and "another step in the process to simplify our structure so we can focus on creating value in markets where we have a compelling competitive advantage." AES continues to operate as a power generator and distributor in more than two dozen countries across Latin America, Africa, North America, Europe, the Middle East, and Asia.

The transaction is slated to close by midyear. Financial details of the sale were not disclosed.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2232004, ~/Articles/ArticleHandler.aspx, 4/19/2014 8:20:53 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

TREND TRACKER: Get Rich When the Web Goes Dark

It's time to say "goodbye" to your Internet! One bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it the single largest business opportunity in the history of capitalism… The Economist is calling it "transformative"... but you'll probably just call it "how I made my millions." Big money is already on the move. Don't be too late to the party – find out the 1 stock to own when the Web goes dark.


Advertisement