04:26 AM EDT, 05/16/2024 (MT Newswires) -- AES ( AES ) said late Wednesday it agreed to sell its 47.3% stake in AES Brasil to Auren Energia for about $640 million.

The sale is to take place alongside a merger between AES Brasil and Auren Energia, valuing AES Brasil shares at approximately 11.55 Brazilian reais ($2.25) per share.

AES ( AES ) said the deal is expected to close in four to six months, subject to customary conditions and approvals as well as completion of a late-stage construction project.

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