Top private equity news of the week

Global Infrastructure Partners and EQT have agreed to acquire AES Corp. in an all-cash transaction valuing the equity at $10.7bn and the enterprise at approximately $33.4bn, including debt.

Under the definitive agreement, AES shareholders will receive $15.00 per share in cash, representing a 40.3% premium to the 30-day volume weighted average share price prior to July 8, 2025.

The consortium also includes California Public Employees’ Retirement System and Qatar Investment Authority as co-underwriters. The purchase price will be funded 100% with equity.

Volkswagen AG has received preliminary bids valuing its diesel engine unit Everllence at around €8bn, equivalent to approximately $9.44bn including debt, Reuters reported.

The disposal would rank among the largest European carve-outs of the year, underscoring how major corporates are accelerating portfolio simplification and creating sizeable opportunities for private equity capital deployment.

Private equity firms including Blackstone, CVC Capital Partners, and Brookfield Asset Management are among bidders for the business, which produces shipping engines and heat pumps. Japanese diesel engine manufacturer Yanmar has also submitted an offer.

Blackstone has strengthened its links to Premier League football as senior executive Prakash Melwani joined the investor group backing Brentford FC, according to Bloomberg.

Melwani, a Senior Managing Director at Blackstone and chairman of its international private equity business, has taken a minority stake in the West London club. He joins Lucian Grainge, chief executive of Universal Music Group, as a new minority investor.

Both investors will sit on the board of Best Intentions Analytics, the holding company for Brentford FC and Spanish side Merida AD.