"AEP to divest stake in transmission companies to KKR, PSP for $2.82bn" was originally created and published by Power Technology, a GlobalData owned brand.

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Global investment firm KKR and the Public Sector Pension Investment Board (PSP), one of Canada’s largest pension funds, have agreed to acquire a 19.9 percent stake in American Electric Power Ohio's (AEP) Indiana and Michigan transmission companies for $2.82 billion.

KKR and PSP Investments have agreed to acquire a minority stake in American Electric Power’s Ohio and Indiana and Michigan transmission companies for $2.82 billion. Founded in 1906, AEP is a US-based electric utility that serves customers across 11 states.

KKR is partnering with the Public Sector Pension Investment Board to buy a 19.9% interest in two units of American Electric Power for $2.82 billion.

American Electric Power Co. has agreed to sell a stake in its transmission business to a strategic partnership between KKR and PSP Investments, the energy company reported.