Hawaii American Water to Purchase Waimea Wastewater Company.

MANews-(C)2009-2018

31 August 2018 - US-based water utility operator American Water's (NYSE: AWK) Hawaii, US-based Hawaii American Water business has entered into a contract to purchase assets and operations of the Waimea Wastewater Company, Inc., which serves a portion of the town of Waimea, the company said.

Located on the Island of Hawai'i, Waimea Wastewater Company is a regulated wastewater utility that serves approximately 217 residential and commercial connections, including the North Hawai'i Community Hospital.

The Waimea Wastewater Company is a wholly-owned subsidiary of Parker Ranch, one of the largest cattle ranches in the United States. Founded in 1847, it is also one of the oldest.

Hawaii American Water currently owns and operates the wastewater treatment plant which serves the Mauna Lani resort on the Big Island and the wastewater treatment plant in Hawaii Kai on Oahu.

The purchase of the Waimea Wastewater system will require Hawaii Public Utilities Commission approval, which is expected in mid-2019.

Hawaii American Water, a wholly owned subsidiary of American Water (NYSE: AWK), provides quality wastewater services to approximately 36,000 people on Oahu and the Big Island of Hawai'i.

With a history dating back to 1886, American Water is the largest and most geographically diverse US publicly traded water and wastewater utility company.

The company employs more than 7,100 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 m people in 45 states and Ontario, Canada.

Country: USA

Sector: Utilities

Target: Waimea Wastewater Company, Inc

Buyer: Hawaii American Water

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Agreed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed