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Eversource Energy announces $2.4b sale of Aquarion Water Co.
Transactions - JANUARY 28, 2025

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Eversource Energy announces $2.4b sale of Aquarion Water Co.

by Released

Eversource Energy has entered into a definitive agreement to sell Aquarion Water Co. to the Aquarion Water Authority (AWA), a quasi-public corporation and political subdivision of the State of Connecticut and a stand-alone, newly created water authority alongside the South Central Connecticut Regional Water Authority (RWA).

Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion, which includes approximately $1.6 billion in cash and $800 million of net debt that will be extinguished at closing.

The proceeds from the sale will enable Eversource to pay down parent company debt while efficiently reinvesting capital into its core electric and natural gas businesses. As a result of this transaction, Eversource expects to record a loss on the planned sale of Aquarion of approximately $300 million in its results for the fourth quarter of 2024. This loss on sale includes approximately $140 million of estimated inco

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