M&A - DPL INC

Form Type: 8-K

Filing Date: 2025-04-04

Corporate Action: Acquisition

Type: New

Accession Number: 000095010325004418

Filing Summary: On April 4, 2025, DPL LLC completed a series of transactions with Astrid Holdings LP, involving the sale of two significant equity stakes in its subsidiaries, AES Ohio Holdings, Inc. and AES Ohio Investments, Inc. DPL LLC agreed to sell 15% of the common stock of Ohio Holdings for approximately $272 million and 17.65% of the common stock of Ohio Investments for the same price. This resulted in total proceeds of about $544 million for DPL LLC. Subsequently, DPL LLC retained an 82.35% interest in Ohio Investments and an indirect 30% equity interest in AES Ohio after these transactions. Additionally, a Shareholders' Agreement was established to guide relationships among DPL LLC, Investor, and Ohio Investments, including governance and transfer rights. In another related development, on April 3, 2025, DPL Inc. converted its corporate structure to an LLC, adopting new Articles of Organization and an Operating Agreement, and renamed itself DPL LLC. The company's prior articles were terminated, and the organizational changes aim to enhance operational flexibility.

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