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Indiana American Water acquires Lake Station water system for $20.7M

Indiana American Water Co. Inc. has completed the acquisition of the water system of the city of Lake Station, Ind., for approximately $20.7 million.

The deal was approved by the state Utility Regulatory Commission in August 2018. Closing of the deal was delayed by appeals, which have now been resolved, the company said in an Oct. 22 news release.

The acquisition adds more than 3,270 water customers, representing more than 8,800 residents, to Indiana American Water's customer base. The Lake Station system will be incorporated into the company's Northwest Indiana operations, which currently serves more than 250,000 residents.

Indiana American Water is a subsidiary of American Water Works Co. Inc.