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SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported):
December 1, 1997
PACIFICORP
(Exact name of registrant as specified in its charter)
State of Oregon 1-5152 93-0246090
(State of Incorporation) (Commission (I.R.S. Employer
File No.) Identification No.)
700 N.E. Multnomah, Suite 1600, Portland, Oregon 97232-4116
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(503) 731-2000
No Change
(Former Name or Former Address, if changed since last report)
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Item 2. ACQUISITION OR DISPOSITION OF ASSETS
PacifiCorp's wholly-owned subsidiary, PacifiCorp Holdings, Inc.
(PHI) completed the sale of Pacific Telecom, Inc. (PTI) to Century Telephone
Enterprises, Inc. (Century) on December 1, 1997. Pursuant with the Stock
Purchase Agreement dated June 11, 1997, Century acquired all the stock of PTI
for $1.5 billion in cash plus the assumption of PTI's debt. The sale is
expected to result in an after-tax gain of approximately $370 million, or
$1.25 per share, in the fourth quarter of 1997. Proceeds from the sale will
be used to repay various short-term debt of PHI and the remaining proceeds
will be invested in short-term money market instruments.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(b) Pro forma Financial Information
1. Pro forma information contained on Form 8-K dated
June 13, 1997, under Item 7. "Financial Statements, Pro
forma Financial Information and Exhibits," is
incorporated herein by reference.
(c) Exhibits
99(a) Stock Purchase Agreement dated as of June 11, 1997 by and
among PacifiCorp Holdings, Inc., Pacific Telecom, Inc.,
Century Telephone Enterprises, Inc., and Century
Cellunet, Inc. (Incorporated by reference to Exhibit 2.1
of Century Telephone Enterprises, Inc.'s Current Report
on Form 8-K dated June 11, 1997, File No. 1-7784.)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PACIFICORP
(Registrant)
By: RICHARD T. O'BRIEN
________________________________
Richard T. O'Brien
Senior Vice President and
Chief Financial Officer
Date: December 2, 1997
