Jul. 2, 2014, 7:51 AM
- 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.
Vectren Corp is an energy holding company, which through its subsidiaries provide gas and/or electricity to customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio.
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