American Water subsidiary agrees to purchase Town of Cape Charles systems

Virginia American Water, a subsidiary of American Water. announced it has signed a comprehensive asset purchase agreement for the drinking water and wastewater assets of the Town of Cape Charles, Virginia for up to a maximum of $15M, pending appraised values and regulatory approvals. The combined systems serve 2,300 customers. Before completing the acquisition, Virginia American Water must obtain approval by the Virginia State Corporation Commission, or SCC. The Town of Cape Charles and Virginia American Water anticipate completing the acquisition in late 2023 following SCC approval.