Philadelphia looking for adviser to help with PGW sale

    After announcing in February an interest in selling Philadelphia Gas Works, the city is now seeking advisers to help navigate the process.

    A report says the utility could be worth up to $1.8 billion, though it has about $1.5 billion in debt and liabilities.
    But an asking price seems a bit far off. For now, the Inquirer reports, the city is taking proposal requests from advisers. May 21 is the deadline, and a contract could be signed by July.

    Following February’s report, the union representing 1,100 PGW workers vowed to fight the sale that could affect employees’ job security.

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