Bryn Mawr based Aqua America is poised to purchase Pittsburgh’s Peoples Gas for $4.3 billion

Aqua America Inc. said it would purchase the Pittsburgh-based gas company in an “all-cash transaction” and assume about $1.3 billion in Peoples’ debt. The transaction is not expected to have any impact on rates, according to Aqua America, writes Bob Bauder for triblive.com

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The sale is subject to the approval of regulators, including public utility commissions in Pennsylvania, Kentucky and West Virginia. The transaction is expected to close in mid-2019.

The combined companies would represent one of the largest publicly traded water utilities and natural gas local distribution companies in the country and provide service to about five million people, according to Aqua America. Aqua America projects the new company would have about $10.8 billion in assets next year and a regulated rate base of over $7.2 billion.

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Aqua provides water and wastewater services to more than 3 million people in 8 states and continues to grow its operations through acquisitions, and is committed to sustainable business practices; excellent customer service; attracting and developing top talent; the strategic growth of our company; delivering shareholder value; investing in technology and infrastructure; and giving back to the communities in which they operate, according to their website.

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