PHILADELPHIA-City officials say they have cut down the list of qualified bidders for the Philadelphia Gas Works.
Representatives of Philadelphia Mayor Michael Nutter say that the list of potential buyers for the utility is smaller, but would not reveal how many qualified bidders remain in contention. The city received bids on Nov. 1, according to the Philadelphia Business Journal.
“We were extremely pleased with the response to our initial Request for Qualifications (RFQ) given both the number and quality of parties interested in acquiring PGW,” says Mayor Nutter. “The number and strength of the indicative bids we received earlier this month were equally encouraging. Now, working with our brokers and financial advisers, we have selected and notified those companies still in contention to attempt to reach an agreement to purchase PGW. The indicative bids we received reinforce our belief that a sale of PGW will benefit Philadelphia taxpayers and PGW customers.” See story in the Philadelphia Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
