PPL Form 8K

0000922224-07-000040.txt : 20070417 0000922224-07-000040.hdr.sgml : 20070417 20070417100815 ACCESSION NUMBER: 0000922224-07-000040 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070417 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070417 DATE AS OF CHANGE: 20070417 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL CORP CENTRAL INDEX KEY: 0000922224 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 232758192 STATE OF INCORPORATION: PA FISCAL YEAR END: 0330 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11459 FILM NUMBER: 07769704 BUSINESS ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 181011179 BUSINESS PHONE: 6107745151 MAIL ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 FORMER COMPANY: FORMER CONFORMED NAME: PP&L RESOURCES INC DATE OF NAME CHANGE: 19941123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL ENERGY SUPPLY LLC CENTRAL INDEX KEY: 0001161976 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32944 FILM NUMBER: 07769705 BUSINESS ADDRESS: STREET 1: TWO NORTH NINETH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101 BUSINESS PHONE: 6107745151 MAIL ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101 8-K 1 pplform8k.htm PPL FORM 8K PPL Form 8K

UNITED STATES

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): April 17, 2007

Commission File Number	Registrant; State of Incorporation; Address and Telephone Number	IRS Employer Identification No.

1-11459	PPL Corporation (Exact name of Registrant as specified in its charter) (Pennsylvania) Two North Ninth Street Allentown, PA 18101-1179 (610) 774-5151	23-2758192

333-74794	PPL Energy Supply, LLC (Exact name of Registrant as specified in its charter) (Delaware) Two North Ninth Street Allentown, PA 18101-1179 (610) 774-5151	23-3074920

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 7 - Regulation FD

Item 7.01 Regulation FD Disclosure

On April 17, 2007, PPL Corporation (“PPL”) issued a press release announcing that its international subsidiary has agreed to sell its Bolivian electricity delivery operation and a related construction company to a group organized by the Bolivian management team and including the employees of those companies, subject to negotiation of a definitive purchase and sale agreement and certain other conditions. PPL announced that it expects to record an unusual after-tax impairment charge in the range of $19 to $26 million, or 5 to 6 cents per share of PPL earnings, for these Bolivian operations when it reports first quarter earnings on May 3, 2007. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d)	Exhibits

	99.1 -	Press release, dated April 17, 2007, announcing that PPL’s international subsidiary has agreed to sell its Bolivian operations.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

	PPL CORPORATION

	By:	/s/ Matt Simmons
		Matt Simmons Vice President and Controller

	PPL ENERGY SUPPLY, LLC

	By:	/s/ Matt Simmons
		Matt Simmons Vice President and Controller

Dated: April 17, 2007

EX-99.1 2 pplform8kexhibit99-1.htm EXHIBIT 99.1 Exhibit 99.1

Exhibit 99.1

www.pplnewsroom.com

Contact:	Dan McCarthy, 610-774-5758
	PPL Corporation
	Two North Ninth St.
	Allentown, PA 18101
	Fax 610-774-5281

PPL Reaches Agreement Regarding Sale of Bolivian Companies

ALLENTOWN, Pa. (April 17, 2007) - PPL Corporation (NYSE: PPL) announced Tuesday (4/17) that its international subsidiary has agreed to sell its Bolivian electricity delivery operation and a related construction company, subject to certain conditions including completion of a definitive agreement, to a group organized by the management team and including the employees of the companies.

PPL had previously announced that it planned to sell its Latin American operations - electricity delivery companies in Chile, El Salvador and Bolivia - through an auction process. The companies involved in the agreement announced Monday - Empresa de Luz y Fuerza Electrica Cochabamba S.A. (Elfec) and Empresa de Ingenieria y Servicios Integrales Cochabamba S.A. (Integra) - make up about 3 percent of PPL’s investment in its international operations and are the smallest of the Latin America properties to be sold.

“While we are continuing to explore offers for our other delivery companies in Latin America, we are pleased to be able to reach this agreement regarding these two companies in Bolivia,” said Rick Klingensmith, president of PPL Global. “This arrangement will allow the management and employees of Elfec and Integra to continue to provide high quality service to their more than 281,000 customers.”

Subject to negotiation of a definitive agreement and satisfaction of certain conditions, Klingensmith said closing is expected within the next three months.

PPL did not release the financial details of the agreement, but did say that it expects to record an unusual after-tax impairment charge in the range of $19 to $26 million, or 5 to 6 cents per share of PPL Corporation earnings, for its Bolivian operations when the company reports its first quarter earnings on May 3.

Klingensmith said that the offer for the Bolivian operations is consistent with PPL’s value expectations for these operations and that the company still expects the sale of the combined Latin American portfolio to result in an after-tax earnings gain for the company.

The sales process for the remainder of its Latin American companies, consisting of electric distribution facilities in Chile and El Salvador, is expected to take six to eight months.

PPL Global companies also provide electricity delivery services to 2.6 million customers in the United Kingdom.

PPL Corporation, headquartered in Allentown, Pa., controls more than 11,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to more than 5 million customers in Pennsylvania, the United Kingdom and Latin America.

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Note to Editors: Visit PPL’s media Web site at www.pplnewsroom.com for additional news and background about the corporation and its subsidiaries.

Certain statements contained in this news release, including statements with respect to future earnings impacts and business disposition, are "forward-looking statements" within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements involve a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: political, regulatory or economic developments and conditions in foreign countries; capital markets; disposition proceeds; and foreign exchange rates. Any such forward-looking statements should be considered in light of such factors and in conjunction with PPL Corporation's Form 10-K and other reports on file with the Securities and Exchange Commission.