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Feb

17

Alpha says lenders offer $500M for coal producer’s assets

By Tony Seruga

CHARLESTON, W.Va. (AP) — Alpha Natural Resources said it has received a $500 million offer from existing lenders for the potential sale of the bankrupt coal producer’s core assets.

Bristol, Virginia-based Alpha announced the offer in a filing Monday in U.S. Bankruptcy Court in Richmond, Virginia.

The filing said the unspecified lenders have agreed to serve as the lead bidder. The offer would set the floor for an auction process that lets competitors make higher bids…

Alpha says lenders offer $500M for coal producer’s assets

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