ppl8k.htm
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):  March 5, 2008

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
     

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 1 – Registrant's Business and Operations

Item 1.01  Entry into a Material Definitive Agreement

On March 6, 2008, PPL Corporation issued a press release announcing that it had entered into a definitive Stock Purchase Agreement to sell its natural gas distribution subsidiary, PPL Gas Utilities Corporation, and propane subsidiary, Penn Fuel Propane, LLC, to UGI Utilities, Inc. for approximately $268 million in cash, plus working capital.  Completion of the sale is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and receipt of approvals from the Pennsylvania Public Utility Commission and the Maryland Public Service Commission.  Closing of the transaction is expected to occur before the end of 2008.

A copy of the press release announcing the execution of the Stock Purchase Agreement is filed as Exhibit 99.1 to this report and incorporated herein by reference.

A copy of the Stock Purchase Agreement is filed as Exhibit 99.2 to this report.


Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

 
(d)
  
Exhibits
  
         
     
99.1 -
Press Release, dated March 6, 2008, announcing PPL’s agreement to sell its natural gas and propane businesses.
     
99.2 -
Stock Purchase Agreement by and between PPL Corporation, as Seller, and UGI Utilities, Inc., as Buyer, dated as of March 5, 2008.



SIGNATURE

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 hereunto duly authorized.


 
PPL CORPORATION
       
 
By:
/s/ J. Matt Simmons, Jr.
  
   
J. Matt Simmons, Jr.
Vice President and Controller
  



Dated:  March 7, 2008