AES closes $202 million sale of businesses in Cameroon

Robert Powell, III //June 16, 2014//

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Arlington-based AES Corp. has closed the sale of three electric power businesses in Cameroon to emerging market investor Actis.

AES will receive $202 million, net of closing price adjustments. The company received $162 million at closing and will get the remaining $40 million in June 2016.

AES entered Cameroon in 2001.

Actis is based in the United Kingdom.

AES is a global power company ranked in the Fortune 500, which employs 22,000 people and operates in 21 countries.

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