California Water Service Finalizes Acquisition Of Skylonda Mutual Water Company; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
California Water Service (Cal Water), a subsidiary of California Water Service Group (NYSE:CWT), has finalized the acquisition of Skylonda Mutual Water Company's water system assets. The Bear Gulch District of Cal Water, which is adjacent to the Skylonda system, will now provide water utility service to Skylonda's 156 customer connections. Cal Water plans to invest in Skylonda's water infrastructure and interconnect the three areas to enhance water supply reliability to the entire district.
August 07, 2023 | 12:54 pm
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POSITIVE IMPACT
The acquisition of Skylonda Mutual Water Company's assets by California Water Service Group (CWT) is expected to expand its customer base and enhance its water supply reliability through infrastructure investment and interconnection of areas.
The acquisition of Skylonda's assets will expand CWT's customer base, adding 156 customer connections. The planned investment in infrastructure and interconnection of areas is expected to enhance the reliability of the water supply, which could potentially attract more customers and increase revenues in the long run. This is likely to have a positive impact on CWT's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100