February 27, 2017 / 7:41 AM / 6 months ago

BRIEF-Drax Group looking to buy some distressed pellet plants in U.S.

Feb 27 (Reuters) - Drax Group Plc

* Process for potential acquisition of distressed pellet plants

* participating in separate processes (1) for acquisition out of bankruptcy of operating assets of Texas pellets (2) and Louisiana pellets (2)

* Has submitted initial cash bids for these assets as part of an auction process, which will be held on 1 and 2 march 2017

* whilst these are binding bids, and could be accepted by sellers, it is expected that successful buyer will be determined through auctions Source text for Eikon: Further company coverage:

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