DPL closes sale of ~30% indirect equity in AES Ohio to CDPQ for $544M; plans to repay $415M notes

DPL LLC

Closed sale of 15% of Ohio Holdings and 17.65% of Ohio Investments to CDPQ for approximately $544M total.
CDPQ now holds ~30% indirect equity interest in AES Ohio; DPL retains 82.35% of Ohio Investments.
Proceeds to be used to repay $415M of 4.125% senior notes due July 2025, plus general corporate purposes.
DPL Inc. converted to DPL LLC on April 3, 2025; Articles of Incorporation terminated, Operating Agreement adopted.
Shareholders' Agreement grants CDPQ board representation and veto rights over major decisions for Ohio Investments.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

DPL LLC: Conversion of entity from Ohio corporation to Ohio limited liability company, including name change to DPL LLC and adoption of new organizational documents (effective 2025-04-03).

Effective: 2025-04-03

Exact text from the filing

On April 3, 2025, DPL Inc. converted its form of business organization from an Ohio corporation to an Ohio limited liability company

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Source: SEC EDGAR

accession 0000950103-25-004418

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