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M&A Deal Summary

AES Acquires CILCORP

On November 23, 1998, AES acquired electrical equipment company CILCORP for 885M USD

Acquisition Highlights
  • This is AES’s 1st transaction in the Electrical Equipment sector.
  • This is AES’s 4th largest (disclosed) transaction.
  • This is AES’s 1st transaction in the United States.
  • This is AES’s 1st transaction in Illinois.
Investment Fate
  • CILCORP was divested to a consortium of strategic buyers in 2002 for 540M USD.

M&A Deal Summary
Date 1998-11-23
Target CILCORP
Sector Electrical Equipment
Buyer(s) AES
Deal Type Add-on Acquisition
Deal Value 885M USD

Target

CILCORP

Peoria, Illinois, United States
CILCORP, Inc.,is an energy services company, CILCO, is an 85 year-old gas and electric utility serving approximately a quarter of a million retail customers in Central Illinois.

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Buyer(S) 1

Buyer

AES

Arlington, Virginia, United States
Category Company
Founded 1981
Sector Utilities
Employees9,600
Revenue 12.3B USD (2024)
DESCRIPTION

AES is a power company that owns and operates a diverse and growing portfolio of electricity generation and distribution businesses, which provide reliable, affordable energy to customers in 21 countries. AES was founded in 1981 and is based in Arlington, Virginia.

DEAL STATS #
Overall 1 of 13
Sector: Electrical Equipment M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 12
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 11
Year: 1998 M&A 1 of 1
Size (of disclosed) 4 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-17 IPALCO Enterprises

Indianapolis, Indiana, United States

IPL provides retail electric service to more than 470,000 residential, commercial and industrial customers in Indianapolis and other central Indiana communities.

Buy $2.2B
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