BlackRock’s Global Infrastructure Partners Nears $38B Acquisition of AES Corp.

AES Corp. (AES) shares surged nearly 15% in German trading following reports that BlackRock's Global Infrastructure Partners (GIP) is finalizing a $38 billion takeover. The deal, expected to be announced imminently according to Financial Times sources, WOULD mark one of the largest infrastructure acquisitions this year.

The Virginia-based power company has been aggressively expanding its renewable energy portfolio, including grids supporting tech giants like Microsoft and Alphabet. However, AES shares have underperformed recently, dropping 35% over the past year amid regulatory uncertainty around green energy incentives.

For BlackRock, the acquisition would significantly expand its infrastructure footprint in sustainable energy solutions. GIP currently manages assets across transportation networks, airports, and conventional energy projects worldwide.