American Electric Power is exploring “strategic alternatives” for AEP River Operations LLC, a major barge transportation subsidiary that moves dry bulk commodities, coal and liquids on the Mississippi and other U.S. rivers.
The St. Louis-based company has offices in New Orleans and operations in Convent, according to its website.
Strategic alternatives generally include every available option, including selling a company.
AEP, a power company with more than 5 million customers in 11 states, said Monday it hired Morgan Stanley & Co. LLC to review alternatives for AEP River Operations LLC. AEP said “there are no assurances that any particular alternative will be pursued or that any transaction will occur, or on what terms.”
In 2014, AEP River Operaions moved more than 69 million tons of cargo for customers.