M&A - DAYTON POWER & LIGHT CO

Form Type: 8-K

Filing Date: 2025-04-04

Corporate Action: Acquisition

Type: New

Accession Number: 000095010325004415

Filing Summary: On April 4, 2025, DPL LLC, a wholly owned subsidiary of The AES Corporation, and Astrid Holdings LP, a subsidiary of Caisse de dépôt et placement du Québec, completed agreements to sell 15% and 17.65% of the shares in AES Ohio Holdings, Inc. and AES Ohio Investments, Inc. respectively, for approximately $272 million each. These transactions granted Caisse de dépôt an indirect equity interest of about 30% in The Dayton Power and Light Company, also known as AES Ohio, with total proceeds of around $544 million for DPL. Additionally, a Shareholders' Agreement was established to frame governance and decisions concerning Ohio Investments, including board composition and company operations. DPL will repay $415 million in senior notes due July 1, 2025 with part of the proceeds and use the remainder for general corporate purposes. Furthermore, on April 3, 2025, an amendment to the Company's Code of Regulations was approved to reduce the board of directors from nine to three members.

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