Deal to buy Aqua Indiana moves forward

November 29, 2007
The Fort Wayne City Council has approved the city's purchase of Aqua Indiana Inc., a water and sewer utility owned by Pennsylvania-based Aqua America Inc.

Fort Wayne City Utilities has offered $16.9 million for the private utility, although the seller says the price is too low. The city says it is taking over the utility because Aqua owes the city $2.1 million and has not operated it efficiently.

The city plans to begin moving Aqua's 9,000 water and 1,600 sewer customers to the city's utility system. The deal is expected to be completed by the end of the year.
Source: XMLFULL/XMLFull8195.xml

Recent Articles by IBJ Staff

Comments powered by Disqus