Bankrupt U.S. coal producer Peabody Energy Corp., which is looking to sell assets in Australia, is seeking permission for Lazard Freres & Co LLC to provide merger and acquisition services for its foreign unit, according to court papers filed on Thursday, Reuters reported. Lazard has been serving as investment banker to Peabody since it filed for chapter 11 bankruptcy in April, but the engagement did not cover merger and acquisition services, which the world's largest private-sector coal company said it now needs. Peabody filed for protection from its creditors after a sharp drop in coal prices left it unable to service $10.1 billion in debt, much of which was incurred to finance an expansion in Australia.
