Business Services Industry
German Utility's Purchase of Kentucky-American Water Co. Is Approved.
Knight Ridder/Tribune Business News, May, 2002
By John Stamper, Lexington Herald-Leader, Ky. Knight Ridder/Tribune Business News
May 31--A divided state Public Service Commission approved the sale of Kentucky-American Water Co. to a German utility giant yesterday, but only if the companies agree to a laundry list of limitations.
Kentucky-American President Roy Mundy said he was "pleased" with the decision but would not immediately agree to the order. He said the companies need time to carefully study each of the PSC's 56 requirements.
The conditions include a ban on any rate increase request by Kentucky-American before March 16, 2004, and a requirement that it get PSC approval before selling Jacobson Park.
Mundy said Kentucky-American has no qualms with the Jacobson Park...
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