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Pennsylvania American Water wraps $93.5M acquisition of Exeter wastewater assets

Pennsylvania-American Water Co. Inc. completed the acquisition of wastewater assets from the township of Exeter in Berks County, Pa., for $93.5 million.

Under the deal, as approved by the Pennsylvania Public Utility Commission, Pennsylvania American Water assumed the existing sewer rates, which will now be billed monthly. The rates are determined by the commission.

The company plans to invest $3 million in water and wastewater infrastructure improvements within the township over the next three years, according to an Oct. 24 news release.

This is Pennsylvania American Water's fifth acquisition of 2019.