Eversource Energy (ES) has announced its agreement to sell the Aquarion Water Company to the Aquarion Water Authority for a total enterprise value of approximately $2.4 billion. This valuation comprises around $1.6 billion in cash and the assumption of $800 million in net debt, which will be settled upon completion of the sale.
The proceeds from this transaction will enable Eversource to decrease its parent company debt while strategically reinvesting capital into its primary operations in the electric and natural gas sectors.
The deal is anticipated to be finalized by late 2025.
Following this transaction, Eversource anticipates recording a loss of approximately $300 million related to the planned sale of Aquarion in its fourth-quarter financial results for 2024. This projected loss incorporates an estimated income tax expense of about $140 million.
Eversource has reiterated its target for long-term earnings per share growth, projecting an increase of between 5% and 7% through 2028.
