Peabody to sell off stake in Illinois operation for $57 million

Peabody Energy is selling its $57 million stake in Prairie State Energy Campus as part of an effort to divest noncore assets, the St. Louis-based coal company announced Thursday.

Wabash Valley Power Association, an Indianapolis-based power company, is buying the 5.06 percent share of Prairie State, a coal-fueled electricity plant and adjacent coal mine in southern Illinois.

Peabody has sold off about $500 million in assets since the second quarter as it looks to fend off bankruptcy, a fate to which fellow St. Louis coal company Arch Coal has already succumbed.

Read more: St. Louis Post-Dispatch

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