Welcome
Environment & Energy Report

Bankrupt Coal Miner Cloud Peak May Be Sold Off in Pieces (1)

May 13, 2019, 6:58 PMUpdated: May 13, 2019, 9:46 PM

Cloud Peak Energy Inc. drew little interest when it put itself on the block in November, raising the prospect the U.S. coal miner could be sold in pieces now that it’s bankrupt.

The company’s advisers talked to 21 potential buyers at the end of last year, but received only one proposal, which was a nonstarter because of “significant execution risk,” Chief Financial Officer Heath Hill said in a filing after Cloud Peak filed for Chapter 11 last week.

“We think it’s unlikely that the whole company is sold as-is,” Scott Schier, an analyst at Clarksons Platou Securities Inc., said by...

To read the full article log in. To learn more about a subscription click here.