Peabody Energy (NYSE: BTU) Confirms Settlement Agreement Effective Following Patriot Coal's Emergence From Bankruptcy
ST. LOUIS, Dec. 18, 2013 /PRNewswire/ -- Peabody Energy (NYSE: BTU) today affirmed that the U.S. Bankruptcy Court for the Eastern District of Missouri has entered an order confirming Patriot Coal's plan of reorganization, and Patriot Coal has announced the successful completion of exit financing and rights offerings allowing the company to emerge from Chapter 11 reorganization. These steps result in the previously announced Settlement Agreement between Peabody, Patriot Coal and the United Mine Workers of America becoming effective.
"Peabody is pleased to close this chapter with the settlement now finalized," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "Peabody continues to advance a strategy begun a decade ago, as we shape our portfolio to target the highest-growth regions both within the United States and internationally."
Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents. For further information, go to PeabodyEnergy.com and CoalCanDoThat.com.
SOURCE Peabody Energy