AES Gener to vote Nov.21 on capital increase

Chilean generator AES Gener will decide on the amount of a capital increase of up to US$80mn at a shareholders meeting on November 21, the company announced Wednesday. US parent AES owns 98.7% of the company, and has previously said that the capital increase, as well as paying off US$300mn of AES Gener debt and refinancing a further US$400mn debt, will be completed by December. AES will provide a "significant part" of the US$300mn capital increase, with the balance coming from investors that would take minority stakes in the company, CEO Paul Hanrahan said in October.