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.