AES Selling Ukrainian Assets

On Friday, electricity generator and distributor AES announced its exit from the Ukrainian power market. The company has agreed to sell its majority interests in two local power distribution businesses, AES Kyivoblenergo and AES Rivneoblenergo, to Netherlands-based VS Energy International.

In a statement, AES characterized its move as an exit from a market that was "not part of our strategic vision" and "another step in the process to simplify our structure so we can focus on creating value in markets where we have a compelling competitive advantage." AES continues to operate as a power generator and distributor in more than two dozen countries across Latin America, Africa, North America, Europe, the Middle East, and Asia.

The transaction is slated to close by midyear. Financial details of the sale were not disclosed.

The article AES Selling Ukrainian Assets originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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