Aqua America, Inc. (WTR) announced that its subsidiary Aqua Illinois, Inc. (Aqua) has entered into an asset purchase agreement to acquire the water system of the Village of Manteno. The purchase price for the system, which serves approximately 10,000 residents in the Kankakee County community, is $4.5 million.
Aqua also entered into an agreement to operate the village's water system pending regulatory approval and the transaction's closing, which is expected later this year. Under this agreement, Aqua is handling the system's operations, water quality testing and routine maintenance of wells, pumps, treatment facilities and water mains. [ more ]
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