Public Service Commission Approves Water Company IPO

State Journal, The, February, 2007 by Ryan, Beth Gorczyca

CHARLESTON - The West Virginia Public Service Commission has given its blessing to a request from the parent company of West Virginia's largest water utility to spin the utility off into its own company.

The Public Service Commission recently approved Thames Water Aqua Holdings GmbH's request to sell outstanding common stock in American Water Works Co., the parent company of West Virginia American Water. As part of the request, West Virginia American Water will be a publicly traded, stand-alone company.

Thames Water Aqua Holdings is a subsidiary of RWE AG, a German company. The date for an initial public offering of stock has not yet been set.

"We expect the transition to go virtually unnoticed by (West Virginia American Water) customers," said PSC Chairman Joe...

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