Ropes & Gray represented Eversource Energy in a definitive agreement to sell Aquarion Water Company for approximately $2.4 billion to the Aquarion Water Authority, a quasi-public corporation and political subdivision of the State of Connecticut and a standalone, newly created water authority alongside the South Central Connecticut Regional Water Authority. The announcement was made in a Jan. 27 press release.
Ropes & Gray advised Eversource on the acquisition of Aquarion in 2017.
Eversource transmits and delivers electricity and natural gas and supplies water to approximately 4.4 million customers in Connecticut, Massachusetts and New Hampshire.
The team was led by M&A partners Tom Fraser and Marko Zatylny and M&A counsel Bryan Lowrance, and included environmental partner Peter Alpert, tax partner Pam Glazier, executive compensation and employee benefits partner Renata Ferrari, finance partner Arek Maczka, IP transactions partner Emily Karlberg and real estate partner David Kaye.
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