American Electric Power Company (AEP) said it will sell its commercial barge subsidiary to American Commercial Lines for $550 million. The subsidiary, AEP River Operations, is a commercial inland barge company that delivers about 45 million tons of products annually, including 10 million tons of coal. It is based in Chesterfield, Mo., and operates 56 towboat and 2,301 barges.
Haynes and Boone lawyers from three different offices advised AEP on the deal.
