PHILADELPHIA-The city has hired JPMorgan Chase as the lead broker in its efforts to sell city-owned utility Philadelphia Gas Works.
The city has also retained Loop Capital Markets, a Chicago-based minority-owned investment bank, to help find interested investors in the 176-year-old gas utility company, according to the Inquirer.
The firms will work on a commission basis and will attempt to sell the utility at or close to the $1.85 billion analysts projected last year as the top amount the city could receive for PGW. See story in the Inquirer.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
