CONSOL Energy Hires Big Banks to Help it Sell Rest of Coal Assets

This is a story that MDN has been watching for years–the transformation (metamorphosis, really) of CONSOL Energy from, at one time, a 100% coal-producing company into a 100% natural gas-producing company. In February MDN reported on the company’s announcement in February to either sell or spin-off the remaining coal assets it owns–this year (see CONSOL Energy 4Q16 Update – Plans to Shed Rest of Coal in 2017). It’s not just words. Bloomberg is reporting that CONSOL has hired two huge banks, Credit Suisse and Bank of America, to begin shopping the coal assets CONSOL still owns to potential buyers…