Blackstone, ArcLight to Buy AEP Plants for $2.2 Billion

  • 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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