(GREENWOOD, Ind., June 27, 2019) –Indiana American Water today announced it is moving forward with its acquisition of the Lake Station water system after a favorable ruling on June 26, 2019 from the Indiana Court of Appeals. The Indiana Office of Utility Consumer Counselor and two other communities, the City of Crown Point and the Town of Schererville, appealed the August 2018 approval by the Indiana Utility Regulatory Commission of the $20.68 million sale. The Court of Appeals agreed with and affirmed the IURC approval.
“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 Matt Prine. “We will be doing a complete evaluation of the Lake Station system upon closing and are committed to providing our new customers in Lake Station the high quality water service our customers all across the state enjoy on a daily basis.”
Lake Station Mayor Christopher Anderson is also enthusiastic about moving forward with the sale.
“The acquisition of our water system by Indiana American Water has several benefits to our community, including additional local and property tax revenues, the expertise and resources to address system and aging infrastructure issues, and significant proceeds from the sale to help us address financial challenges and other pressing community needs,” said Anderson. “I look forward to completing the acquisition and positioning our community for continued growth and prosperity well into the future.”
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 more than 14 million people in 46 states. 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.