Peabody Energy debtor looks to sell ownership interest for $57 million

By Caroline Salls

Pittsburgh, April 22 – Peabody Energy Corp. requested court approval to assume a Jan. 19 purchase and sale agreement under which debtor Peabody Electricity, LLC will sell its 100% ownership interest in debtor Lively Grove Energy Partners, LLC (LGEP) to Wabash Valley Power Association, Inc. for $57 million, according to a motion filed Friday with the U.S. Bankruptcy Court for the Eastern District of Missouri.

Peabody said Lively Grove’s sole asset is a 5.06% participation interest in the Prairie State Energy Campus and a portion of related Prairie State project assets.

The company said all necessary regulatory approvals for the sale have been obtained, including approvals from the Federal Energy Regulatory Commission and the Indiana Utility Regulatory Commission.

A hearing is scheduled for May 5.

Peabody, a St. Louis-based coal producer, filed bankruptcy on April 13. The Chapter 11 case number is 16-42529.

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