(Jeffersonville, Ind., January 2, 2019) – Indiana American Water today announced it is moving forward with its acquisition of the Charlestown water system after a favorable ruling on December 31, 2018 from the Indiana Court of Appeals denied a local opposition group’s request to block the sale. The Indiana Utility Regulatory Commission approved the sale in March of last year for $13.4 million.
“We are obviously pleased with the ruling from the Indiana Court of Appeals and look forward to closing on the acquisition as soon as possible,” said Indiana American Water President Deborah Dewey. “After the closing, we plan to do a complete evaluation and develop the best solutions for keeping our commitment to solving the system’s water quality and water age issues as quickly as possible.”
Charlestown Mayor Bob Hall is also enthusiastic about moving forward with the sale. “The water issues that Charlestown is dealing with aren’t new. It’s been a challenge for more than 50 years, and while it isn’t going to be solved overnight, we are committed to working with Indiana American Water to do whatever it takes to address the town’s infrastructure and water quality needs.”
“The proceeds from the sale and the new tax revenues that will be coming in from Indiana American Water will also help Charlestown to address issues with our sewer system and other pressing community needs,” Hall continued. “This partnership represents a new chapter for our community and I am looking forward to the new opportunities for growth, prosperity, and a thriving economy that the sale will help bring about.”
About Indiana American Water
Indiana American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 1.3 million people. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,100 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to over 14 million people in 45 states and Ontario, Canada. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.