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PPL > SEC Filings for PPL > Form 8-K on 20-Dec-2013All Recent SEC Filings

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Form 8-K for PPL CORP


Completion of Acquisition or Disposition of Assets

Item 2.01. Completion of Acquisition or Disposition of Assets

As previously disclosed, on September 26, 2013, PPL Montana, LLC, a wholly owned indirect subsidiary of PPL Energy Supply, LLC, a wholly owned indirect subsidiary of PPL Corporation, announced that it had agreed to terminate its lease arrangement related to its partial interests in Units 1, 2 and 3 of the Colstrip coal-fired electricity generating facility and to acquire those interests, collectively, for $271 million (the "Acquisition").

On December 20, 2013, the Acquisition was completed. Also as previously disclosed, pursuant to the lease termination agreements, $106 million of the Acquisition proceeds was applied by the selling owner-lessors to redeem outstanding owner-lessor issued notes, including an approximately $12 million "make-whole" premium.

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