---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-004415"
form_type: "8-K"
ticker: null
cik: "0000027430"
company_name: "DAYTON POWER & LIGHT CO"
filed_at: "2025-04-04T23:59:59+00:00"
generated_at: "2026-05-23T21:36:44.226523+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CDPQ acquires ~30% indirect equity stake in AES Ohio for $544M; proceeds to repay $415M notes

## Summary
- CDPQ subsidiary Astrid Holdings LP purchased 15% of AES Ohio Holdings and 17.65% of AES Ohio Investments for total $544M, closing April 4, 2025.
- CDPQ now holds ~30% indirect equity interest in AES Ohio (The Dayton Power and Light Company).
- DPL LLC will use portion of proceeds to repay in full $415M of 4.125% senior notes due July 1, 2025.
- Remaining proceeds for general corporate purposes, including equity contributions to AES Ohio.
- Board of directors reduced from nine to three via amendment to Code of Regulations effective April 3, 2025.

## SEC filing metadata
- accession: 0000950103-25-004415
- form_type: 8-K
- cik: 0000027430
- company_name: DAYTON POWER & LIGHT CO
- filed_at: 2025-04-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/27430/000095010325004415/0000950103-25-004415-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/27430/000095010325004415/dp227254_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-004415
- JSON: https://secwatch.observer/filing/0000950103-25-004415.json
- Plain text: https://secwatch.observer/filing/0000950103-25-004415.txt

## Key facts
- Governance Changes
  DAYTON POWER & LIGHT CO: Decreased the authorized number of directors on the board from nine to three via an amendment and restatement of the Code of Regulations (effective 2025-04-03).
  - Change: bylaw amendment
  - Effective: 2025-04-03
  source text: On April 3, 2025, the Company's shareholder approved an amendment and restatement of the Code of Regulations of the Company (the " Amended and Restated Code of Regulations "), to, among other things, modify the language in Article II, Section 2 to decrease the authorized number of directors on the Company's board of directors from nine to three.
  evidence_url: https://www.sec.gov/Archives/edgar/data/27430/000095010325004415/0000950103-25-004415-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.