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.

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. agreed to sell a minority stake in its transmission business to KKR & Co. and Canada’s PSP Investments for $2.8 billion. Most Read from BloombergWhat Robotaxis Brought San FranciscoNYC Condo Owners May Bear Costs of Landmark Green Building LawNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’Can American Drivers Learn to Love Roundabouts?

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.

American Electric Power (AEP) has entered into a strategic partnership with KKR and PSP Investments to sell a 19.9% equity interest in its Ohio and Indiana & Michigan transcos. These companies are transmission-only utilities responsible for building,