Canadian pension fund puts $750M behind Aqua acquisition

Aqua America secured a $750 million investment from Canada’s national pension plan in its efforts to acquire a major group of gas companies in Pittsburgh, the Bryn Mawr-based water utility announced Friday.

The investment by the Canada Pension Plan Investment Board (CPPIB) is expected to close alongside the Peoples’ acquisition, which was announced in October 2018 in a deal valued at $4.275 billion, including absorbing about $1.3 billion of debt.

It’s a deal that will turn Aqua, the second largest…

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