American Electric Power has entered into a $2.82 billion deal with KKR and PSP Investments with respece to a 19.9% stake in its Ohio and Indiana & Michigan Transmission Companies.
American Electric Power plans to use proceeds from the sale of 19.9% of AEP Ohio Transmission and AEP Indiana Michigan Transmission for its five-year, $54 billion capital spending plan.
KKR and the Public Sector Pension Investment Board (PSP Investments) are acquiring a 19.9% interest in American Electric Power's Ohio and Indiana & Michigan transmission companies for $2.82 billion.