March 24 - American Electric Power (AEP) has engaged Morgan Stanley to explore strategic alternatives for its barge transportation subsidiary, AEP River Operations.
Headquartered in St. Louis, Missouri, AEP River Operations provides transportation services for grain, project cargo, coal, steel, ores, liquids and other bulk products, with a fleet of over 2,900 hopper barges.
AEP said that it is committed to completing its review of potential alternatives for AEP River Operations as soon as possible, but it made clear that there are no assurances that any particular alternative will be pursued, or that any transaction will occur, or on what terms.
The company does not plan to release additional information about the status of the review of alternatives until a definitive agreement is entered into, or the process is otherwise completed.
