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Montana to sue after Missoula’s Mountain Water Co. sold without approval

Montana utility regulators will sue after the owner of Missoula’s water system sold it to another company without their approval.

The Carlyle Group sold Park Water Co. – the parent company of Mountain Water Co. and two water companies in California – to Liberty Utilities earlier this month for $327 million.

The deal went through despite a review pending before the Montana Public Service Commission. Attorneys for the companies previously said the PSC does not have jurisdiction because the sale of Park Water’s stock does not affect Mountain Water’s assets.

Full Story: http://www.nbcmontana.com/news/State-to-sue-after-Mountain-Water-Co-sold-without-approval/37715316

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