BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) announced today that county commissioners
in Sarasota County, Florida, voted yesterday to move forward with the
purchase of the company's water and wastewater operations in Sarasota.
The price of the systems, which serve about 12,000 customers, is $36.8
million. The transaction is expected to close at the end of 2013 or
early in the first quarter of 2014.
This transaction would represent the final of five separate transactions
to profitably sell all of Aqua America's operations in Florida. The
sales of Aqua's other Florida operations closed earlier this year. When
this final Florida sale is closed, Aqua America will have concentrated
its regulated operations in eight states (Pennsylvania, Ohio, North
Carolina, Illinois, Texas, New Jersey, Indiana and Virginia) where it
has economies of scale and is poised for growth by executing its
portfolio rationalization strategy.
Aqua America is one of the largest U.S.-based, publicly traded water
utilities and serves about 3 million people. Visit Aqua America online
at aquaamerica.com.
This release contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made based upon Aqua America's current
expectations and assumptions with respect to, among other things,
certain post closing adjustments and indemnity provisions. There are
important factors that could cause actual results to differ materially
from those expressed by such forward looking statements, including
certain potential post-closing adjustments and other key factors that we
have indicated that could adversely affect our business and financial
performance and that are discussed in our Annual Report on Form 10-K for
the fiscal year ended December 31, 2012, which is on file with the
Securities and Exchange Commission. For further information regarding
risks and uncertainties associated with Aqua America's business, please
refer to Aqua America's annual, quarterly and other SEC filings. Aqua
America is not under any obligation — and expressly disclaims any such
obligation — to update or alter its forward-looking statements whether
as a result of new information, future events, or otherwise.
WTRF
Aqua America, Inc
Gretchen Toner
610-645-1175
gmtoner@aquaamerica.com
or
Brian
Dingerdissen
Director, Investor Relations
610-645-1191
bjdingerdissen@aquaamerica.com
Source: Aqua America, Inc.
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