Virginia American Water Finalizes Acquisition of Town of Cape Charles Water and Wastewater Systems
American Water Works Company, Inc. (AWK)
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Source: Business Wire
ALEXANDRIA, Va.--(BUSINESS WIRE)--Virginia American Water announced today it has closed the acquisition of the drinking water and wastewater system assets of the Town of Cape Charles, Virginia for $15 million. This acquisition brings approximately 1,400 water and wastewater customers to Virginia American Water and is the second to be completed by the company under the Fair Market Value Legislation enacted by the Virginia General Assembly in 2020.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240424085131/en/Back row (l to r): Adam Charney, Mayor, Town of Cape Charles and Steve Bennett, Vice Mayor, Town of Cape Charles. Front row (l to r): John Hozey, Town Manager, Town of Cape Charles and Charlie Piekanski, Vice President of Operations, Virginia American Water (Photo: Business Wire)As part of the acquisition, Virginia American Water will invest more than $10 million in future critical system improvements over the next
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