Liberty Utilities Co. to acquire American Water’s New York operations

Algonquin Power & Utilities Corp. has announced that Liberty Utilities Co., Algonquin’s regulated utility operating subsidiary, has entered into a stock purchase agreement with American Water Works Company, Inc. to purchase American Water’s regulated operations in the State of New York for $608 million (U.S.), subject to customary adjustments.

Headquartered in Merrick, N.Y., New York American Water is a regulated water and wastewater utility serving more than 125,000 customer connections across seven counties in southeastern New York. Operations include approximately 1,270 miles of water mains and distribution lines with 98 percent of customers in Nassau County on Long Island.