California Water Service Group (NYSE:CWT) is included among the many 14 Greatest Mid-Cap Dividend Shares to Purchase Now.
On January 8, California Water Service Group (NYSE:CWT), which already owns a majority stake in BVRT Utility Holding Firm LLC (BVRT) via its subsidiary TWSC, Inc. (Texas Water), mentioned it has agreed to purchase the remaining possession pursuits in BVRT. If accomplished, the deal would make the corporate the only proprietor of BVRT’s seven water and wastewater utility subsidiaries serving the Austin–San Antonio hall.
On the identical time, BVRT has continued pushing additional into Texas by pursuing new initiatives aimed toward constructing and upgrading water and wastewater infrastructure throughout the area. Martin A. Kropelnicki, Group Chairman and CEO, made the next remark:
“The BVRT crew has been a superb companion as, collectively, we’ve introduced secure, dependable utility service to those dynamic, rising communities over the previous 5 years. As we develop and improve our funding, operations, and repair within the area, we stay up for extra absolutely integrating the BVRT crew into Group and Texas Water whereas pursuing further, strategic alternatives that allow Texas Water Service to offer the best-in-class utility service our prospects have come to anticipate.”
The Group mentioned it expects to file a change-of-control utility with the Public Utilities Fee of Texas (PUCT) within the close to future as a part of the method to amass the remainder of BVRT. The transaction nonetheless wants to fulfill commonplace closing circumstances, together with approval from the PUCT and the Group’s board.
California Water Service Group (NYSE:CWT) operates as a holding firm, offering water utility and associated providers throughout California, Washington, New Mexico, Hawaii, and Texas via its subsidiaries.
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Disclosure: None.
