EFTA00768484.pdf

From: David Stern al=I= > To: Jeffrey Epstein <[email protected]> Subject: AES to raise $2.15 bin from stake sales to China's CIC Date: Sat, 07 Nov 2009 11:48:44 +0000 * AES to sell 125.5 min shrs at $12.60 each * To sell stake in wind generation business for $571 min * China Investment Corp unit to buy stakes * Q3 profit rises, ups midpoint of FY adj shr view * AES stock rises 4 pct (Recasts, adds details, updates share movement) Nov 6 (Reuters) - AES Corp (AES.N) said it will raise about $2.15 billion by selling stakes in the company and its wind generation business to China Investment Corp (CIC). The power company said it will sell 125.5 million shares, or a 15 percent stake, to a unit of China's sovereign wealth fund at $12.60 each, for about $1.58 billion. AES, which is looking to boost its renewable energy capacity, also signed a letter of intent with the CIC to raise an additional $571 million of equity for a stake in its wind generation unit. Separately, the company reported a higher third-quarter profit and raised the midpoint of its full-year adjusted profit outlook by 1 cent to $1.09 a share. Analysts on average were looking for earnings of $1.10 for the period, according to Thomson Reuters I/B/E/S. In August, the company had forecast 2009 adjusted earnings of between $1.05 a share and $1.10 a share. For the latest third quarter, the company earned 28 cents a share, up from 22 cents a share last year. Analysts were looking for a profit of 26 cents a share. Consolidated revenue fell 11 percent to $3.84 billion, above analysts' forecast of $3.35 billion. AES shares were up 4 percent at $14.37 Friday afternoon on the New York Stock Exchange This message is confidential. It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake please let us know by reply and then delete it from your system; you should not copy the message or disclose its contents to anyone. Opinions, conclusions and other information in this message that do not relate to the official business of Asia Gateway Ltd. shall be understood as neither given nor endorsed by it. Asia Gateway Ltd. EFTA00768484 Michelin House 81 Fulham Road London SW3 6RD UK Tel: -UM Fax: EFTA00768485