CPPIB to invest $750 mln in Aqua America's buy of Peoples
Canada Pension Plan Investment Board (CPPIB) has agreed to invest about US$750 million in Aqua America Inc (NYSE: WTR), a Bryn Mawr, Pennsylvania-based water and wastewater utility. As a result, CPPIB will acquire about 21.7 million newly issued shares of the company's common stock. The proceeds will support Aqua's acquisition of Peoples Natural Gas Co LLC, a Pittsburgh, Pennsylvania-based provider of natural gas services, from SteelRiver Infrastructure Partners. The deal, announced in October, is valued at US$4.3 billion, including debt.
29 March 2019•4 mins read
