Blackstone, ArcLight to Buy AEP Plants for $2.2 BillionBy and
AEP had been looking to sell plants in U.S. Midwest for months
Power generators’ profits have been squeezed by cheap gas
American Electric Power Co., one of the largest electricity generators in the U.S., agreed to sell a set of power plants in the Midwest to Blackstone Group LP and ArcLight Capital Partners LLC for $2.17 billion.
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