American Water, Aqua America complete asset exchange

   American Water Works Company, Inc. (Voorhees, NJ) and Aqua America, Inc. (Bryn Mawr, PA) have completed a transaction under which American Water has acquired seven water systems in New York from Aqua America for approximately $39 million in cash and $23 million in assumed debt and has sold its eight regulated water operations in Ohio to Aqua America for $101 million in cash and $11 million in assumed debt. “The completion of these agreements to expand our operations in New York and divest our operations in Ohio is part of American Water’s overall plan to operate in areas where it can best serve customers by leveraging economies of scale and our technological expertise,” said Jeff Sterba, president and CEO of American Water. “Adding these systems to our existing New York operations helps us to create value for our customers and provides an important opportunity for growth in areas north of New York City.”