PPL Corporation is acquiring two of Kentucky’s major utilities, adding these high-performing companies to PPL’s already strong combination of excellent, regulated businesses and a high-value competitive generation fleet.

The transaction will transform PPL into a more geographically diverse utility holding company with combined annual revenues of about $10 billion, serving nearly 5 million electricity customers in the United States and the United Kingdom and owning or controlling about 20,000 megawatts of U.S. electricity generating capacity.

James H. Miller, PPL chairman, president and chief executive officer said the transaction takes advantage of “a rare opportunity to add to PPL the experience, talent and values of an organization with a proven track record of cost-effective operations, a strong focus on customer service and constructive regulatory relationships.”