AES Seeks Lifting of Injunction Suspending Venezuelan Offer.Business Editors/Banking & Environmental Writers ARLINGTON, Va.--(BUSINESS WIRE)--June 6, 2000 The AES Corporation (NYSE NYSE See: New York Stock Exchange : AES) announced today that on June 5, a Venezuelan commercial court had issued a preliminary injunction A temporary order made by a court at the request of one party that prevents the other party from pursuing a particular course of conduct until the conclusion of a trial on the merits. A preliminary injunction is regarded as extraordinary relief. suspending the Venezuelan tender offer for all outstanding shares of C.A. La Electricidad de Caracas (BVC BVC Bar Vocational Course (UK) BVC Bolsa de Valores de Colombia (Colombia) BVC Bureau Veritas Certification BVC Banco Venezolano de Credito (Venezuela) : EDC EDC See: Export Development Corp. ) at US$0.57 per share, based on a claim of insufficient information relating to the transaction. AES believes the commercial court lacks jurisdiction and is seeking the immediate lifting of the injunction. AES is offering to purchase 100% of the outstanding shares of Grupo EDC at US$0.57 per share and 100% of the outstanding ADSs at US$28.50 per ADS. The U.S. Offer is scheduled to expire on Tuesday, June 6, 2000 at 12:00 midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time. Subject to the conditions of the Venezuelan Offer, AES will purchase all of the shares validly tendered and not withdrawn by 12:00 midnight on Tuesday, June 6, 2000, at US$0.57 per share, and will thereafter purchase all of the shares validly tendered and transferred to the name of Citibank, as trustee, of the Venezuelan Offer, on the shareholder registry of Grupo EDC on or before 12:00 midnight, June 9, 2000, so long as the letter of transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. for such shares tendered is presented to Citibank prior to 12:00 midnight, June 6, 2000. AES is a leading global power company comprised of competitive generation and retail supply businesses in Argentina, Australia, Bangladesh, Brazil, Canada, China, Dominican Republic, El Salvador, Georgia, Hungary, India, Kazakhstan, the Netherlands, Mexico, Pakistan, Panama, the United Kingdom and the United States. The company's generating assets include interests in one hundred and twenty-five facilities totaling over 44 gigawatts of capacity. AES' electricity distribution network has over 954,000 km of conductor and associated rights of way and sells over 114,000 gigawatt gig·a·watt n. Abbr. GW One billion (109) watts. hours per year to over 15 million end-use customers. In addition, through its various retail electricity supply businesses, the company sells electricity to over 154,000 end-use customers. AES is dedicated to providing electricity worldwide in a socially responsible way. For more general information visit our web site at www.aesc.com or contact investor relations Investor relations The process by which the corporation communicates with its investors. at investing@aesc.com. The list aes-pr-announce is an automated mailing list and can be found on the investing page of our web site. Those who subscribe to this list will receive updates when AES issues a press release. |
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