Utility firm Eversource to sell water supply unit in $2.4 billion deal (updated)

Eversource Energy

27/01/2025 23:16

(Adds details on transaction, background in paragraphs 2-3)
       Jan 27 (Reuters) - Eversource Energy  ES.N  said on
Monday it has agreed to sell its public water supply unit in a
deal valued at $2.4 billion, as the utility firm aims to pare
debt and focus on the core electric and natural gas businesses.
    The company had purchased Connecticut-based Aquarion Water
in 2017 for about $1.7 billion to diversify into the water
supply business.
    The water utility serves nearly 250,000 water and wastewater
customers in 72 cities and towns across Connecticut,
Massachusetts and New Hampshire.
    

 (Reporting by Mrinalika Roy in Bengaluru; Editing by Shilpi
Majumdar)
 ((mrinalika.roy@thomsonreuters.com;))