"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.

KKR (KKR) said Thursday it formed a 50/50 strategic partnership with Canada's PSP Investments to acquire 19.9% stakes in American Electric Power's (NASDAQ:AEP) Ohio and Indiana transmission company, as well as its Michigan transmission company,

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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.

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.