Closing to take place by the end of July
HARRINGTON PARK, N.J. /PRNewswire/ -- The New York State Public Service Commission (PSC) approved the acquisition of United Water Resources by Paris-based Suez Lyonnaise des Eaux, a large company which provides private infrastructure services, United Water announced July 19. The PSC decision represents the final regulatory approval needed to conclude the transaction.
The closing of the transaction is now scheduled for July 26. After the closing, United Water will maintain its corporate identity as a wholly owned subsidiary of Suez Lyonnaise des Eaux.
As announced by the company on July 12, shareholders of United Water's common stock will receive $35 in cash, plus a special dividend of $.30, and a pro rata share of the regular $.24 per share quarterly dividend for each common share they own as of the closing date.
With annual revenues of $32.5 billion, Suez Lyonnaise des Eaux has operations in more than 120 countries. In the water sector, the company serves 100 million consumers and 60,000 industrial clients. Suez Lyonnaise des Eaux has been a principal shareholder in United Water since 1994 following United Water's merger with GWC Corporation.
United Water is a holding company engaged in water-related businesses and real estate investments with a history that dates back to 1869. As the nation's second-largest water services company, United Water provides water and wastewater services through its regulated utilities and non-regulated municipal contract operations to more than 7.5 million people in over 400 communities in 17 states.
For more information, visit United Water's web site at http://www.unitedwater.com.
