ARLINGTON, Va. -- Power company AES Corp. has agreed to sell its entire interests in its Oman and Pakistan businesses for about $200 million, in order to unlock the value of its portfolio.

In a statement Sunday AES said the deal will remove $276 million of debt from its balance sheet. It will also result in a one-time charge of 16 cents per share in 2009 and a gain of 12 cents per share in 2010.

AES indirectly holds interests in the Oman and Pakistan facilities through AES Oasis, which is owned 61.1 percent by AES and 38.9 percent by the IDB Infrastructure Fund.

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Posted by claire at December 14, 2009 7:57 AM