- Pennsylvania American Water, a subsidiary of American Water ( NYSE: AWK ) signed an agreement with the Butler Area Sewer Authority to purchase its wastewater system for $231.5M.
- As part of the agreement, Pennsylvania American Water will offer employment to all of BASA’s employees, maintain the existing BASA operations center for a minimum of 10 years, assume BASA’s planned capital improvement projects utilizing qualified Butler area contractors, and adopt BASA’s rates at closing with a minimum 1-year rate freeze.
For further details see:
Pennsylvania American Water to buy BASA wastewater system for $231.5M