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: December 19, 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)
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Item 5. Other Events.
On December 19, 1997, LG&E Power Argentina I Inc. ("LG&E Argentina"), a
wholly-owned indirect subsidiary of the Company, entered into a Put and
Call Agreement with Pluspetrol Resources Corporation ("Pluspetrol") and
ASTRA Compania Argentina de Petroleo S.A. ("Astra") pursuant to which
Pluspetrol and Astra have an option to purchase from LG&E Argentina, and
LG&E Argentina has an option to sell to Pluspetrol and Astra, LG&E
Argentina's one-third interest in the company which owns and operates the
San Miguel facility, at a purchase price which is established based upon a
variable pricing structure. The put and call options expire on June 30,
1998. If the transaction occurs prior to February 1, 1998, the purchase
price would be the greater of $19 million and the Company's then current
net book value for the San Miguel project; if the transaction occurs after
January 31, 1998, the purchase price would be $16 million. The Company's
net investment in the San Miguel project as of December 31, 1997, was
approximately $18.8 million.
Also, on December 30, 1997, LG&E Energy Corp. announced that it elected R.
Foster Duncan, 43, to the position of executive vice president, planning
and development, effective January 12, 1998.
Item 7(c). Exhibits Filed.
Exhibit
Number Description
99.01 News Release dated December 30, 1997.
SIGNATURES
Pursuant to the requirements of the Securities and 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: January 8, 1998 /s/ John R. McCall
John R. McCall
Executive Vice President, General
Counsel and Corporate Secretary
- 1 -
Exhibit 99.01
LG&E Energy Names R. Foster Duncan
Executive Vice President, Planning and Development
LOUISVILLE, Ky. - LG&E Energy Corp. (NYSE:LGE) announced today that R.
Foster Duncan, 43, has been elected executive vice president, planning and
development, effective Jan. 12, 1998. Mr. Duncan is currently vice
president and corporate treasurer for New Orleans-based Freeport-McMoRan,
Inc.
Mr. Duncan will lead a new business unit within LG&E Energy Corp.
responsible for corporate strategic planning; domestic and international
business development (including mergers and acquisitions, joint ventures
and strategic alliances); and new product and service development for all
LG&E Energy business divisions.
Reporting directly to Mr. Duncan will be Ralph Daley, senior vice president
within LG&E Energy Marketing, who leads LG&E Energy's business development
group in Fairfax, Va.; Stephen Schaefer, director of business development;
Jim Whelan, who will become director of strategic planning; and Jay Homola,
who will become director of product and service development.
Mr. Duncan received his bachelor's degree from the University of Virginia,
and an MBA from Tulane University's A. B. Freeman Graduate School of
Business. He joined Freeport-McMoRan in 1989 as director of strategic
planning, and held a variety of progressively responsible senior-management
positions within the company before being named vice president and
corporate treasurer in 1994. He also serves on the boards of several civic
and charitable organizations.
"I am pleased to welcome Foster to LG&E Energy's management team," said
Roger W. Hale, LG&E Energy chairman and chief executive officer. "He is a
proven leader with a wealth of knowledge in the areas of corporate
planning, business development and strategic product and service
initiatives. As our company continues to grow at a rapid pace, Foster's
experience, insight and vision will be extremely valuable in strengthening
our position within the energy industry."
LG&E Energy Corp., a Fortune 500 company headquartered in Louisville, Ky.,
is a diversified energy services and marketing company with businesses in
energy marketing and trading; power generation and project development; and
retail gas and electric utility services.
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