WV Approves American Water Spinoff

NY Newsday:

West Virginia regulators on Friday approved a German company's plan to spin off American Water Works Co. in an initial public offering.

West Virginia American Water is a subsidiary of American Water.

In its order, the Public Service Commission also approved the merger of American Water's immediate corporate parent, London-based Thames Water Aqua Holdings, into American Water. Thames is a subsidiary of Germany-based RWE-AG, which provides electricity, water, gas and environmental services to more than 120 million business and residential customers in Europe and North America.