Natural Resource Partners L.P.
NRP today reported that it has acquired (1) a 48.51% general partner
interest in OCI Wyoming L.P. and (2) 20% of the common shares and all of the
preferred shares of OCI Wyoming Co. from subsidiaries of Anadarko Petroleum
Corporation APC. NRP paid a net $292.5 million for the interests,
after normal closing adjustments to the purchase price of $310 million. The
agreement also contains an earn-out provision, which would require NRP to pay
Anadarko up to $50 million, on a net present value basis, over a three-year
period if OCI Wyoming L.P. achieves specified revenue targets during that
period. The acquisition was funded through a $200 million term loan, the
issuance of $76.5 million in equity, including a general partner contribution
of $1.5 million, and $16 million in cash.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in