Rentech Nitrogen Partners, L.P. Exploring Strategic Alternatives
Rentech Nitrogen Partners, L.P. (NYSE:RNF) , announced today that its Board of Directors has initiated a process to explore and evaluate potential strategic alternatives for the partnership, which may include a sale of the partnership, a merger with another party, a sale of some or all of the assets of the partnership, or another strategic transaction. The Board of Directors of Rentech, Inc. (NASDAQ:RTK) , which is the General Partner of, and owns approximately 60% of the common units of, the partnership, concurred with the partnership’s decision to explore its strategic alternatives.
Rentech Nitrogen has retained Morgan Stanley as its financial advisor to assist with the strategic review process. The partnership stated that there can be no assurance that this strategic review process will result in a transaction. Rentech Nitrogen has not set a timetable for completion of the review process, and it does not intend to comment further regarding the review process unless a specific transaction is approved by its Board of Directors, the review process is concluded, or it is otherwise determined that further disclosure is appropriate or required by law.
About Rentech Nitrogen Partners, L.P.
Rentech Nitrogen (www.rentechnitrogen.com) was formed by Rentech, Inc. to own, operate and expand its nitrogen fertilizer business. Rentech Nitrogen’s assets consist of two fertilizer production facilities owned by its operating subsidiaries. The East Dubuque facility is located in the northwestern corner of Illinois, and uses natural gas as a feedstock to produce primarily anhydrous ammonia and UAN solution for sale to customers in the Mid Corn Belt. The Pasadena facility is located in Pasadena, Texas, along the Houston Ship Channel; it uses ammonia and sulfur as feedstocks to produce ammonium sulfate and ammonium thiosulfate fertilizers, and sulfuric acid. Rentech Nitrogen is the largest producer of synthetic granulated ammonium sulfate fertilizer in North America, with sales in the United States and internationally.
Forward Looking Statements
This news release contains forward-looking statements about matters such as: the risks and uncertainties of any strategic alternative for Rentech Nitrogen, including whether any strategic alternative will be identified or, if identified, whether it will be pursued or consummated. Rentech Nitrogen has not made a decision to pursue any particular strategic alternative, and there can be no assurance that the exploration of potential strategic alternatives will result in a sale of the partnership or in any other transaction. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in Rentech Nitrogen’s press releases and periodic reports filed with the Securities and Exchange Commission, which are available via Rentech Nitrogen’s website at www.rentechnitrogen.com. The forward-looking statements in this news release are made as of the date of this release and Rentech Nitrogen does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.
Sorry. No data so far.