Negotiations under way to sell remaining Florida assets to governmental
bodies
BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) announced today that it has completed the
sale of 57 water systems and 23 wastewater systems in 12 counties in
Florida to the Florida Governmental Utility Authority (FGUA) for $50.2
million, subject to certain post-closing adjustments. In separate
transactions, Aqua sold nine water systems and four wastewater systems
in five counties to U.S. Water for $1.6 million, and Aqua sold one water
system and one wastewater system that serve the Arredondo Farms
community in Alachua County to YES Communities Companies, LLC, which
owns and manages manufactured home communities, for $1.1 million.
Collectively, these sales represent 65 percent of Aqua's customers in
Florida.
These transactions represent three out of five separate transactions to
sell all of Aqua America's operations in Florida. Aqua expects to sell
its remaining Florida operations in Sarasota and DeSoto counties in the
second or third quarter of 2013. When all of its Florida sales are
closed, Aqua America will have concentrated its regulated operations in
eight states (Pennsylvania, Ohio, North Carolina, Illinois, Texas, New
Jersey, Indiana and Virginia).
Aqua America is one of the largest U.S.-based, publicly-traded water
utilities and serves about 3 million people. Visit Aqua online at www.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 Aqua
Utilities Florida and U.S. Water's ability to obtain regulatory approval
of the transactions, 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.
Donna Alston
Manager, Communications
610-645-1095
484-368-4720
dpalston@aquaamerica.com
or
Brian
Dingerdissen, 610-645-1191
Director, Investor Relations
bjdingerdissen@aquaamerica.com
Source: Aqua America, Inc.
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