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American Water Works to Sell NY Regulated Operations in $608M Deal

American Water also announced it had reached an agreement to sell its Keystone Clearwater Solutions operations of Hershey, PA to SC Water LLC, a College Station, PA-based natural gas and oil industry investment group.

American Water Works Co.’s headquarters in Camden, NJ American Water Works Co.’s headquarters in Camden, NJ

CAMDEN, NJ—Locally-based American Water Works Co. has reported plans to sell its regulated New York operations—New York American Water—to Liberty Utilities, the regulated utility business of Algonquin Power & Utilities Corp. of Ontario, Canada, for $608 million.

American Water and Liberty Utilities anticipate the sale will close in the latter half of 2020. The two firms have agreed to a sale price of approximately $608 million in cash. The completion of the transaction is subject to the satisfaction or waiver of various conditions including regulatory approval by the New York Public Service Commission.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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