Eversource said it signed a Purchase and Sale Agreement on January 27, 2025 to sell Aquarion Water Company to the Aquarion Water Authority, with an aggregate enterprise value of about $2.4 billion.

1. 01

   Eversource said it signed a Purchase and Sale Agreement on January 27, 2025 to sell Aquarion Water Company to the Aquarion Water Authority, with an aggregate enterprise value of about $2.4 billion.

2. 02

   The company said the aggregate enterprise value of about $2.4 billion includes about $1.6 billion in cash and $800 million of net debt that will be extinguished at closing. It said the value represents 1.7X rate base as of December 2024.

3. 03

   The company said it expects to record a loss of about $300 million on the planned sale of Aquarion, including estimated income tax expense of about $140 million, in its results for Q4 2024. It also explained that it plans to use the sale proceeds to pay down holding company debt and reinvest in its core electric and natural gas businesses.

4. 04

   The company said the sale is subject to approvals from the Connecticut Public Utilities Regulatory Authority, the Massachusetts Department of Public Utilities and the New Hampshire Public Utilities Commission, as well as approvals under the Hart-Scott-Rodino Antitrust Improvements Act. It said it expects the transaction to close in late 2025.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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