Essential Utilities’ Aqua Texas Subsidiary Completes First Acquisition Under New Texas Fair Market Value Law
The transaction is the first of which Aqua Texas was able to use a new Texas law that allows regulated water companies to pay a fair market value for the purchase of water and wastewater systems.
- The transaction is the first of which Aqua Texas was able to use a new Texas law that allows regulated water companies to pay a fair market value for the purchase of water and wastewater systems.
- The new FMV law applies to all water and wastewater utilities including those owned and operated by private investors and municipal governments.
- When the agreement of sale was reached several months ago, Essential Chairman and CEO Christopher Franklin said The Commons agreement illustrated the benefits of the new fair market value law.
- For more information regarding risks and uncertainties associated with Essential Utilities business, please refer to Essential Utilities annual, quarterly and other SEC filings.