logo
Share SHARE
FONT-SIZE Plus   Neg

Aqua America Completes Sale Of Maine Operations To Connecticut Water Service

Aqua America, Inc. (WTR) announced that it has completed the sale of its Maine operations to Connecticut Water Service Inc. (CTWS) effective January 1, 2012, which includes 11 water systems serving 16,000 customers in 17 communities throughout Maine.

Connecticut Water purchased all of the capital stock of Aqua Maine, Inc. for an aggregate cash purchase price of approximately $35.8 million, plus the assumption of long-term debt that, as of December 31, 2010, was approximately $17.7 million, subject to certain closing adjustments.

Aqua America expects to book a gain on the transaction in the first quarter of 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
PayPal has agreed to buy Xoom, a digital money transfer provider, for $890 million in cash. Following the announcement, Xoom shares jumped 22 percent in after-hours trade on the Nasdaq. Discount retailer Family Dollar Stores Inc., which is being acquired by rival Dollar Tree Inc., said Wednesday after the markets closed that its third quarter profit fell slightly from last year, due mainly to a higher effective tax rate. The company's quarterly earnings per share, excluding items, also came in below analysts' expectations. Most of the major automakers, except General Motors Co. (GM), Wednesday reported improved sales results for June, as strong sales of trucks and SUVs continued to help offset weak car sales. Nonetheless, GM's June U.S. sales dropped 3 percent to 259,353 units from 267,461 units last year. The drop...
comments powered by Disqus
RELATED NEWS
Trade WTR now with 
Follow RTT