The AES Corp. has announced that its acquisition of DPL Inc.  has closed, effective Monday, having received all necessary regulatory approvals and consents.

"The acquisition of DP&L is an important step in AES’ efforts to grow in select markets while achieving operational efficiencies through greater scale,” said Andrés Gluski, AES president and chief executive officer. “We are pleased to have completed this acquisition on schedule and we look forward to delivering significant benefits from the merger to all stakeholders.”

“The purchase of DP&L is important for AES as it expands our presence in PJM and the Midwest,” said Andrew Vesey, executive vice president and chief operating officer for utilities. “Our assets in this market are well positioned to meet customer demands in an evolving environmental landscape.”

“Like DP&L, AES has a strong track record of customer service and operational performance,” continued Vesey. “We look to build upon our success in managing Indianapolis Power & Light Company while leveraging our global scale.” While AES’ operations span 27 countries, and will now include 13 distribution companies and more than 100 generation plants with 40,000 megawatts installed capacity, DP&L’s headquarters will remain in Dayton, Ohio.

Dolphin Subsidiary II Senior Notes: Release from Escrow

In connection with the closing of the acquisition, the proceeds from the previously announced private $1.25 billion senior notes offering by Dolphin Subsidiary II, Inc., a wholly owned special purpose subsidiary of AES, which were previously deposited into an escrow account pending the closing of the acquisition, were released from the escrow account to fund the acquisition. As a result, DPL assumed the obligations under such senior notes.