AES » Topics » Gain (loss) on sale of investments

This excerpt taken from the AES 10-K filed Aug 7, 2007.

Gain (loss) on sale of investments

Gain on sale of investments was $98 million in 2006 and was primarily comprised of the following:

·       In March 2006, we sold our equity investment in a power project in Canada (Kingston) for a net gain of $87 million.

·       In September 2006, we transferred Infoenergy, a wholly owned AES subsidiary, to Brasiliana for a net gain of $10 million. Brasiliana is 54% owned by BNDES, but controlled by AES. This transaction was part of the Company’s agreement with BNDES to terminate the Sul Option.

There was no gain on sale of investments in 2005 and a $1 million loss on sale of investments in 2004.

This excerpt taken from the AES 10-K filed May 23, 2007.

Gain (loss) on sale of investments

Gain on sale of investments was $98 million in 2006 and was primarily comprised of the following:

·       In March 2006, we sold our equity investment in a power project in Canada (Kingston) for a net gain of $87 million.

·       In September 2006, we transferred Infoenergy, a wholly owned AES subsidiary, to Brasiliana for a net gain of $10 million. Brasiliana is 54% owned by BNDES, but controlled by AES. This transaction was part of the Company’s agreement with BNDES to terminate the Sul Option.

There was no gain on sale of investments in 2005 and a $1 million loss on sale of investments in 2004.

EXCERPTS ON THIS PAGE:

10-K
Aug 7, 2007
10-K
May 23, 2007
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