Vectren Sale Moves ForwardPosted: Updated:
Evansville-based Vectren Corp. (NYSE: VVC) has cleared another hurdle in the planned sale of its coal mining subsidiary, Vectren Fuels Inc., to a Sullivan County company. The utility says a required review waiting period on the approximately $300 million deal with Sunrise Coal LLC has expired.
August 11, 2014
Evansville, Ind. -- Vectren Corporation (NYSE: VVC) reported that the required review waiting period expired at midnight on Wednesday, August 6, 2014 under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR"). This HSR filing was made in connection with Vectren's previously announced sale of its wholly owned coal mining subsidiary, Vectren Fuels, to Sunrise Coal, LLC, an Indiana-based wholly owned subsidiary of Hallador Energy Company (NASDAQ: HNRG). This completes another required step in the process to close the transaction. The transaction is proceeding as planned, with closing expected in the third quarter of 2014.
Vectren Corporation (NYSE: VVC) is an energy holding company headquartered in Evansville, Ind. Vectren's energy delivery subsidiaries provide gas and/or electricity to more than 1 million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the U.S. These include, primarily, infrastructure services and energy services. To learn more about Vectren, visit www.vectren.com.
Source: Vectren Corp.