AES Reports Quarterly Loss

Arlington energy giant AES reported a loss in the first quarter after recording a charge of about $638 million from the sale of a Venezuelan subsidiary.

The company said it lost $455 million (67 cents a share) in the three months ending March 31, compared with a year ago profit of $348 million (52 cents).

AES this year sold its stake in a power plant in Caracas under pressure from President Hugo Chavez, who is pushing to nationalize the country's electricity and telecommunication industries.

By Dan Beyers  |  June 21, 2007; 6:57 AM ET
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