Powered by

Bowie Resource Partners to buy coal assets from Peabody Energy

Nov 23, 2015 - The Deal Pipeline
Mergers and Acquisitions

Private equity-backed Bowie Resource Partners LLC has agreed to acquire certain assets from Peabody Energy Corp. (BTU) in a $463 million deal that will provide liquidity for the heavily indebted seller.

Peabody said in a statement late on Friday, Nov. 20, that it will sell its coal assets in New Mexico and Colorado to Louisville, Ky., coal producer Bowie for $358 million in cash and the assumption of about $105 million in liabilities. The St. Louis seller said it would use the sale p...