American Water Announces Completion of Sale of its Regulated Operations in New York to Liberty
03 Januar 2022 - 11:00PM
Business Wire
American Water Works Company, Inc. (NYSE: AWK), the largest
publicly traded U.S. water and wastewater utility company, today
announced the close of the sale of its regulated operations in New
York to a subsidiary of Liberty Utilities Co. (“Liberty”), the
regulated utility operating subsidiary of parent company Algonquin
Power & Utilities Corp., for a purchase price of $608 million
in cash.
American Water announced the agreement to sell its regulated
operations in New York to Liberty on November 20, 2019, citing the
best interest of customers in New York to sell to Liberty, which
has other utility operations in New York. The sale is a part of
American Water’s strategy to continue to create value for
customers, employees, and shareholders. On December 16, 2021, the
New York State Department of Public Service approved the sale,
adopting the Joint Proposal filed on November 3, 2021 by both
companies. American Water completed the sale to Liberty on January
1, 2022.
About American Water
With a history dating back to 1886, American Water (NYSE:AWK) is
the largest and most geographically diverse U.S. publicly traded
water and wastewater utility company. The company employs
approximately 6,400 dedicated professionals who provide regulated
and regulated-like drinking water and wastewater services to an
estimated 14 million people in 25 states. American Water provides
safe, clean, affordable and reliable water services to our
customers to help keep their lives flowing. For more information,
visit amwater.com and follow American Water on Twitter, Facebook
and LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20220103005194/en/
Investor Contact: Aaron Musgrave Senior Director,
Investor Relations (856) 955-4445 aaron.musgrave@amwater.com
Media Contact: Ruben Rodriguez Senior Director, External
Communications (856) 955-4180 ruben.e.rodriguez@amwater.com
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