Vectren to sell coal mining unit to Hallador Energy unit for up to $325M

|About: Hallador Energy Co (HNRG)|By:, SA News Editor

Hallador Energy's (HNRG) Sunrise Coal subsidiary agrees to acquire Vectren's (VVC) coal mining unit for $296M plus additional working capital adjustments, not to exceed a total of $325M.

Vectren Fuels owns three underground coal mines in Indiana which have sold 10.1M tons of coal in the past 12 months; current 2015 coal sales commitments are 9.5M tons.

VVC says the transaction will result in a Q2 book loss of $0.24-$0.26 per share.