Shearman & Sterling represented Barclays Capital Inc. and J.P. Morgan Securities LLC as representatives of the several underwriters on a public secondary offering by Terrific Investment Corporation, a subsidiary of China Investment Corporation, of 46 million shares of The AES Corporation’s common stock. Concurrently with the offering, The AES Corporation repurchased 20 million shares of its common stock from Terrific Investment Corporation.
The AES Corporation is a Fortune 200 global power company. It provides sustainable energy to 21 countries through its diverse portfolio of distribution businesses as well as thermal and renewable generation facilities.
The following Shearman & Sterling team advised on this transaction: partners David Beveridge (New York-Capital Markets), Russell Sacks (New York-Financial Institutions Advisory & Financial Regulatory), and Michael Shulman (Washington, DC-Tax); counsel Harald Halbhuber (New York-Capital Markets) and Jason Pratt (New York-Environmental); and associates Quentin Wiest (New York-Capital Market), Leo Wong (New York-Corporate Group), Jennifer Morton (New York-Financial Institutions Advisory & Financial Regulatory), Jeffrey Tate (Washington, DC-Tax), Mary Jo Lang (Washington, DC-Tax) and Laura Mulry (New York-Environmental).