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Stock Market & Financial Investment News

News Breaks
May 16, 2014
08:33 EDTWTRFort Wayne approves purchase of Aqua America unit's water operations
Aqua America announced that the Fort Wayne City Council has unanimously voted to approve the purchase of Aqua Indiana’s drinking water system assets in southwest Allen County, Indiana, for $67M, which comprises $50.1M in addition to $16.9M the city already paid Aqua for its water and wastewater system assets in the northern part of Fort Wayne in a contested decision in 2008. The agreement requires approval by the Indiana Utility Regulatory Commission, and the transaction is expected to close in 4Q14. The company said, "This sale will provide Aqua with more than $50M in cash that we can reinvest in water and wastewater infrastructure. We are optimistic that the sale can close in Q4 and would add 6c-7c to EPS in FY14.”
News For WTR From The Last 14 Days
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October 9, 2014
13:33 EDTWTRAqua America unit acquires assets of Spartan Village water systems
Aqua America announced that its New Jersey subsidiary, Aqua New Jersey, acquired the assets of the Spartan Village water and wastewater systems from Spartan Village for $1, with plans to invest approximately $375,000 for upgrades to distribution pipes, meters and the wastewater plant. The systems serve approximately 650 people in North Hanover Township and Wrightstown Borough, both in Burlington County where Aqua New Jersey currently serves three other communities. The transactions bring the number of regulated acquisitions Aqua America subsidiaries have completed this year to 13.

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