Fort 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.”
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