AES Completes Sale of AES New Energy to Constellation Energy Group for Approximately $260 Million.Business Editors ARLINGTON, Va.--(BUSINESS WIRE)--Sept. 9, 2002 The AES Corporation (NYSE NYSE See: New York Stock Exchange :AES) announced today that it has completed the sale of AES New Energy to Constellation Energy Group (CEG (Continuous Edge Graphics) A VGA RAMDAC chip from Edsun Labs that adds anti-aliasing on the fly. It can also calculate intermediate shades, thus providing thousands of colors on an 8-bit board that normally generates only 256 colors. ) for approximately $260 million, which reflects approximately $20 million in purchase price adjustments since June 2002. Paul T. Hanrahan, President and Chief Executive Officer, stated, "The New Energy closing demonstrates AES's ability to successfully complete strategic asset sales at fair prices and lives up to our earlier commitments regarding this transaction." "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This news release may contain "forward-looking statements" regarding The AES Corporation's business. These statements are not historical facts, but statements that involve risks and uncertainties. Actual results could differ materially from those projected in these forward-looking statements. For a discussion of such risks and uncertainties, see "Risk Factors" in the Company's Annual Report or Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the most recently ended fiscal year. AES is a leading global power company comprised of contract generation, competitive supply, large utilities and growth distribution businesses. The company's generating assets include interests in 177 facilities totaling over 59 gigawatts of capacity, in 33 countries. AES's electricity distribution network sells over 108,000 gigawatt gig·a·watt n. Abbr. GW One billion (109) watts. hours per year to over 16 million end-use customers. For more general information visit our web site at www.aes.com or contact investor relations at investing@aes.com. |
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