American Water IPO

The State Journal (WV):

The parent company of West Virginia's largest water utility company hopes a recent public hearing in front of the state's Public Service Commission will result in a green light allowing the company to sell off the utility.

German-based RWE AG is hoping to divest itself of American Water Co. and its subsidiary companies, including West Virginia American Water. RWE AG has said it would like to sell off the water utility companies through an initial public offering, or IPO, of stock sometime in 2007.

But before RWE AG can launch the IPO, public service commissions in 13 of the 29 states American Water Co. operates in must approve of the sale.