ITC Holdings Corp.
Mar 3, 2003

DTE Sells Transmission Unit

DTE Energy Co. has completed the sale of its electric transmission subsidiary to an investor group that includes two New York companies for about $610 million in cash.

The Detroit-based company announced in December that it agreed to sell its International Transmission Co. unit to the group, which includes investment firm Kohlberg Kravis Roberts & Co. and asset management firm Trimaran Capital Partners LLC. International Transmission owns DTE Energy's system of nearly 3,000 miles of high-voltage electric lines and related assets.