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AEP closing sale of Kentucky operations at lower price

AEP closing sale of Kentucky operations at lower price

American Electric Power said Thursday it agreed to a lower price of $2.65 billion for the sale of its Kentucky operations to Liberty Utilities and that it expects to close the deal in January. AEP originally planned to sell the business for $2.85 billion to Liberty in a deal announced in Oct., 2021. AEP said it'll record a pre-tax loss of $180 million to $220 million in the third quarter as a result of the new price. The delay in the timing of the deal will not impact AEP's equity needs or its o