Business Services Industry
Kentucky-American Water Co. Sale Gets New Kinks.
Knight Ridder/Tribune Business News, August, 2002
By Andy Mead, Lexington Herald-Leader, Ky. Knight Ridder/Tribune Business News
Aug. 30--A change in German tax law means the sale of Kentucky-American Water Co. is headed back to the Kentucky Public Service Commission.
But the significance of a possible rehearing of the controversial case was in dispute yesterday.
The attorney general's office, the city of Lexington and a group pushing the city to buy Kentucky-American say it gives them an additional 60 days to question the company's sale to RWE AG, a German conglomerate.
An attorney for the water company said it is only a procedural matter sparked by a tax law change that makes it financially desirable to set up another subsidiary to hold the stock of American Water Works,...
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