American Electric Power announced plans to sell its Kentucky operations.
The sale includes Kentucky Power and is a deal for over $2 billion once approved by regulators.
The buyer of AEP’s Kentucky operations is Liberty, a utility provider with more than one million customers in the U.S. and Canada
According to AEP, 360 employees will transfer to Liberty when the sale is finalized in the second quarter of 2022.
No action is necessary from customers at this time.
AEP expects to net approximately $1.45 billion in cash after taxes and transaction fees.