Iowa American Water Purchases The City Of Donahue's Water And Wastewater Systems For $1.75M
Portfolio Pulse from Benzinga Newsdesk
Iowa American Water, a subsidiary of American Water Works Company Inc. (AWK), has acquired the water and wastewater systems of Donahue, Iowa, for $1.75 million. This acquisition, approved by the Iowa Utilities Board, adds 140 water and 118 wastewater customers to its Quad Cities service area.
December 07, 2023 | 9:51 pm
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American Water Works Company Inc. (AWK) has expanded its service area through the acquisition of Donahue's water and wastewater systems, adding 258 customers to its Quad Cities service area.
The acquisition of Donahue's water and wastewater systems by AWK's subsidiary is likely to have a positive short-term impact on AWK's stock. The addition of new customers directly contributes to the company's growth in the utilities sector and may be viewed favorably by investors.
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