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Algonquin Power Utilities acquires Park Water from Carlyle for $327 Million

Amanda Levin
9/19/14 3:55 PM EDT
Algonquin Power Utilities Corp. announced a deal on Friday to acquire Park Water from Carlyle Infrastructure for $327 million in a competitive auction, with both infrastructure funds and strategic players taking part in the process. The deal includes the assumption of approximately $77 million of existing long-term utility debt. The acquisition is expected to have $259 million in net property, plant and equipment, and other assets for rate-making purposes when it closes. The acquisition is part of Algonquin's strategy to acquire regulated utilities in the United States. This is Park Water's eighth deal since 2010.
Stock quotes in this video: AQN.TO, WFC

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