Algonquin Power & Utilities - President and CEO, Arun Banskota.
President and CEO, Arun Banskota.
Source: Algonquin Power & Utilities.
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  • Algonquin (AQN) subsidiary Liberty Utilities has signed an amended purchase agreement for Kentucky Power Company and AEP Kentucky Transmission Company
  • The amended agreement comes at a revised purchase price of US$2.646 billion, including the assumption of US$1.221 billion in debt, and is expected to close in January 2023
  • Liberty is partnering with American Electric Power (NASDAQ: AEP) on the transaction
  • Algonquin Power & Utilities is a diversified international energy generation, transmission and distribution company
  • Algonquin (AQN) is up by 1.12 per cent, trading at $15.33 per share

Algonquin (AQN) subsidiary Liberty Utilities has signed an amended acquisition agreement.

The acquirees include Kentucky Power Company and AEP Kentucky Transmission Company.

Liberty is partnering with American Electric Power (NASDAQ: AEP) on the transaction.

The amended agreement includes a revised purchase price of US$2.646 billion, including the assumption of US$1.221 billion in debt.

Algonquin believes the acquisition offers a compelling valuation and ample opportunities to deliver customer benefits and work with stakeholders on Kentucky’s energy transition.

The companies expect the transaction to close in January 2023 upon approval of the U.S. Federal Energy Regulatory Commission.

“We are excited about the Kentucky Power acquisition and adding to our regulated footprint in the U.S., as well as leveraging our operational experience for the customers and communities of Kentucky,” stated Arun Banskota, Algonquin’s President and CEO.

Algonquin Power & Utilities is a diversified international energy generation, transmission and distribution company focused on regulated services and renewable energy.

Algonquin (AQN) is up by 1.12 per cent, trading at $15.33 per share as of 10:06 am EST.


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