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Consol to Spin-Off Coal Subsidiary; Become Pure E&P
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CONSOL Energy Inc. reported that its subsidiary, CNX Coal Resources LP, filed a Registration Statement on Form S-1 with theU.S. Securities and Exchange Commission for the initial public offering of common units representing limited partner interests. CNX Coal Resources' initial assets are expected to consist of a 20% undivided interest in, and operational control over, CONSOL Energy's Pennsylvania mining complex, which consists of three underground mines (the Bailey Mine, the Enlow Fork Mine and the Harvey Mine) and related infrastructure.
The number of common units to be offered and the price range for the offering have not been determined. The offering is expected to be completed in mid-2015. CNX Coal Resources intends to apply to list the common units on the New York Stock…
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