AES Reaches Agreement With Se.ven Global Investments To Sell Its 51% Equity Stake In Mong Duong 2 Coal-fired Plant In Vietnam; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
AES Corporation has agreed to sell its 51% equity stake in the Mong Duong 2 coal-fired plant in Vietnam to Se.ven Global Investments. The terms of the deal were not disclosed. The transaction is pending approvals by the Government of Vietnam and the Ministry of Industry and Trade, with an expected close aligning with AES's plan to exit most of its coal assets by 2025.
November 30, 2023 | 11:33 am
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AES Corporation is divesting its majority stake in the Mong Duong 2 coal-fired plant, which is in line with its strategy to reduce coal assets. The financial terms have not been disclosed, but the deal is subject to government approvals.
The sale of AES's stake in the coal-fired plant is likely to be viewed positively by investors focused on sustainability and could lead to a short-term uptick in AES's stock price. The lack of financial details limits the analysis, but the strategic move aligns with the broader industry trend towards cleaner energy sources. The transaction is still pending regulatory approval, which introduces some uncertainty.
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