Headquartered in Evansville, Ind., Vectren Fuels owns three underground coal mines in southwestern Indiana that collectively employ about 850 contract miners.
Officials said the sales price is $296 million in cash, plus an estimated $20 million change in working capital from Dec. 31, 2013, until the transaction is closed. Closing is expected in the third quarter of 2014.
Vectren Energy Delivery of Ohio serves 315,000 customers in 17 counties in west central Ohio.
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