================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): September 29, 1999
THE AES CORPORATION
(exact name of registrant as specified in its charter)
DELAWARE 333-15487 54-1163725
(State of Incorporation) (Commission File No.) (IRS Employer Identification No.)
1001 North 19th Street, Suite 2000
Arlington, Virginia 22209
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code:
(703) 522-1315
NOT APPLICABLE
(Former Name or Former Address, if changed since last report)
================================================================================
<PAGE>
Item 5. Other Events
On September 29, 1999, the AES Corporation (the "Registrant") announced
that an appellate judge in the Minas Gerais state court system reversed a lower
court ruling and granted a temporary injunction that suspends the effectiveness
of a shareholders' agreement for Cia. Energetica de Minas Gerais ("Cemig"). The
State of Minas Gerais had previously commenced an action seeking a declaratory
ruling that the shareholders' agreement entered into as a condition of the 1997
auction of Cemig shares is invalid. The lower court judge had allowed the suit
to proceed but denied the temporary injunction. This appellate ruling suspends
the shareholders' agreement while the action to determine its validity is
proceeding.
The declaratory judgment action applies only to the shareholders' agreement and
does not purport to challenge AES's ownership interest in Cemig. Under the
shareholders' agreement, subsidiaries of AES and Southern Company, and The
Opportunity Fund, as minority shareholders in Cemig, are given certain rights to
participate in the administration and management of Cemig's operations.
AES is evaluating all of the options available to it, and intends to vigorously
pursue its legal rights in this matter. AES does not anticipate that this
temporary suspension of the shareholders agreement will have a significant
affect on its financial condition or results of operation.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE AES CORPORATION
Date: October 6, 1999 By /s/ William Luraschi
--------------------
(signing officer)
