GIP Is Said to Team Up With EQT in Bid to Acquire Power Firm AES

BlackRock Inc.’s Global Infrastructure Partners has teamed up with EQT AB in its bid to acquire power company AES Corp., according to people familiar with the matter.

The two investment firms could reach an agreement as soon as the coming weeks to buy AES, which provides renewable power to tech giants like Microsoft Corp., said the people. No final decision has been made and the talks could still drag on or fall through, said the people, who asked to not be identified because the matter is private.

Representatives for AES, GIP and EQT declined to comment.

AES ...