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.

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