South West Water’s Proposed Merger Gets Regulatory Approval

South West Water’s proposed merger with JP Morgan Asset Management and Water Asset Management has received approval from Alabama, Mississippi and Texas, three of the required five state public utility regulators.

US-based JP Morgan Asset Management and Water Asset Management previously entered into an agreement to acquire the entire stake of South West Water for $275m.

After taking into account South West’s outstanding debt, the transaction represents a total of around $427m.

South West Water serves more than one million people in nine US states.