In connection with launching this process, James River has entered into an amendment to its revolving credit agreement, which will provide the company with continued access to its revolving credit facility during the strategic review process. A complete description of the material terms of the amendment will be filed with the Securities and Exchange Commission on form 8-K.
To assist in the process of identifying, evaluating and pursuing potential strategic alternatives, the company has engaged Perella Weinberg Partners LP as restructuring advisor, Deutsche Bank Securities Inc. as M&A advisor and Davis Polk & Wardwell LLP as legal advisor.
James River has not made a decision to pursue any specific transaction or other strategic alternative, and there can be no assurance that the exploration of strategic alternatives will result in the identification or consummation of any transaction.
James River is one of the leading coal producers in Central Appalachia and the Illinois Basin. The company sells metallurgical, bituminous steam and industrial-grade coal to electric utility companies and industrial customers both domestically and internationally. Its operations are managed through subsidiaries located throughout eastern Kentucky, southern West Virginia and southern Indiana.
