Tue August 12, 2014
Vectren Subsidiary Sale Clears Hurdle
Vectren has cleared another hurdle in the $300 million deal to sell its coal mining subsidiary, Vectren Fuels Inc., to a Sullivan County company. The utility says a required review waiting period on the sale to Sunrise Coal LLC has expired.
A release from Vectren says that the required review waiting period expired at midnight last Wednesday under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This HSR filing was made in connection with Vectren's previously announced sale of Vectren Fuels, to Sunrise Coal. Vectren says the transaction is proceeding on schedule, with closing expected by the end of September.
Sunrise Coals, LLC, is an Indiana-based wholly owned subsidiary of Hallador Energy Company.