American Water selling New York operations for $608M

Camden-based American Water is divesting part of its business in the Empire State.

The company said Wednesday it has agreed to sell its regulated operations in New York state to Canadian energy company Algonquin Power & Utilities Corp.’s Liberty Utilities for $608 million.

In a statement, American Water CEO Susan Story said the decision to sell was “very difficult” since American Water (NYSE: AWK) has operated in the state for more than 130 years.

“After a careful and comprehensive analysis,…

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