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: February 10, 1997
LG&E ENERGY CORP.
(Exact name of registrant as specified in its charter)
Kentucky 1-10568 61-1174555
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
220 West Main Street
P.O. Box 32030
Louisville, KY 40232
(Address of principal executive offices)
(502) 627-2000
(Registrant's telephone number)
Item 5. Other Events.
On February 10, 1997, LG&E Energy Corp. announced that it had submitted a
proposal to the board of directors of Big Rivers Electric Corporation to lease
or acquire the assets of the Henderson, KY-based power cooperative, which is
currently in bankruptcy proceedings.
Item 7(c). Exhibits Filed.
Exhibit
Number Description
99.01 News Release dated February 10, 1997.
SIGNATURES
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.
LG&E ENERGY CORP.
Registrant
Date: February 10, 1997 /s/ John R. McCall
John R. McCall
Executive Vice President, General Counsel
and Corporate Secretary
Exhibit 99.01
LG&E Energy Corp. Submits Proposal for Big Rivers
Louisville, Ky. - LG&E Energy Corp. has submitted a proposal to the board of
directors of Big Rivers Electric Corporation to lease or acquire the assets of
the Henderson, KY-based power cooperative.
The proposal outlines two alternate plans to Big Rivers, which is currently in
bankruptcy proceedings. Under the first plan, LG&E Energy would lease the
power generation assets of Big Rivers for 25 years and provide power to Big
Rivers' member cooperatives at reduced rates. That proposal mirrors the
transaction structure outlined in Big Rivers' reorganization plan filed with
the bankruptcy court on January 22, but provides $35 million in rate reductions
to Big Rivers and an additional $2 million to be distributed to its unsecured
creditors.
Under the second proposal, LG&E Energy would acquire all assets, properties and
contracts not rejected in the plan. The purchase alternative would provide the
same economic value to creditors as LG&E Energy's lease option, but provides
$50 million in rate reductions to customers.
LG&E Energy has indicated to the Big Rivers board of directors that, based upon
the information available through the bankruptcy proceedings, both proposals
offer greater benefit to Big Rivers but that the purchase option offers more
certainty to Big Rivers' customers.
LG&E Energy has requested that Big Rivers' board of directors respond to the
bid by February 17, 1997.
LG&E Energy Corp. (LGE:NYSE), is an industry-leading energy services holding
company headquartered in Louisville, Kentucky. The company has assets and
operations in retail and wholesale power and natural gas services and market-
ing. It has offices, operations and partnership projects throughout the U.S.,
as well as in Canada, Argentina and Spain.
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