OCI Enterprises Inc. Signs Definitive Agreement to Sell General Partner & Limited Partner Interests in OCI Resources LP to Pa...
2015年7月20日 - 10:00PM
ビジネスワイヤ(英語)
OCI Enterprises Inc., the North American subsidiary of OCI
Company Ltd. (“OCI”) of Seoul, Korea, has signed a definitive
agreement to sell its approximately 73% limited partner interest in
OCI Resources LP (NYSE: OCIR) (“OCI Resources” or the
“Partnership”), as well as its 2% general partner interest and
related incentive distribution rights, to Park Holding A.S., a
subsidiary of Ciner Group of Istanbul, Turkey.
Following the transaction, OCI Resources will continue to
operate as a publicly traded Master Limited Partnership with the
current management team remaining with the Partnership. The
transaction does not involve the sale or purchase of any OCI
Resources common units held by the public.
The transaction is subject to customary closing conditions and
regulatory approvals and is expected to close by the end of the
third quarter 2015.
OCI Resources owns a controlling interest comprised of a 51%
membership interest in OCI Wyoming LLC (“OCI Wyoming”), one of the
largest and lowest-cost producers of natural soda ash in the world.
Ciner Group, through its subsidiary, Eti Soda, operates a natural
soda ash production facility in the world's second largest trona
ore bed located in Beypazarri, Turkey.
“We are really excited about our new strategic relationship with
Ciner Group and their desire to help us expedite the growth of our
MLP. We think there will be numerous opportunities to leverage
their expertise to help us grow our cash flow,” said OCI Resources
President and CEO Kirk Milling.
“Ciner Group is pleased to welcome OCI Resources to our family
of companies. With its position in markets that are complementary
to ours, OCI Resources brings solid operational and financial
performance as well as industry-leading safety performance,” said
Turgay Ciner, Chairman, Ciner Group.
In June 2015, OCI Enterprises Inc. announced it was evaluating
strategic alternatives for its stake in OCI Resources.
Citi acted as financial advisor, Dechert LLP served as legal
advisor to OCI Enterprises Inc. and White & Case LLP served as
legal advisor to Ciner Group with the assistance of Regnum
Solicitors acting as in-house legal advisor.
ABOUT OCI ENTERPRISES INC.
OCI Enterprises Inc. is a chemical and green energy company
headquartered in Atlanta, Ga. It is the North American subsidiary
of OCI Company Ltd., of Seoul, Korea. OCI Enterprises Inc. is
comprised of two divisions: Atlanta-based OCI Chemical Corporation
and San Antonio-based OCI Energy LLC.
ABOUT OCI RESOURCES LP
OCI Resources LP, a master limited partnership, operates the
trona ore mining and soda ash production business of OCI Wyoming
LLC, one of the largest and lowest cost producers of natural soda
ash in the world, serving a global market from its facility in the
Green River Basin of Wyoming. The facility has been in operation
for more than 50 years.
ABOUT OCI COMPANY LTD.
OCI Company Ltd. is a global leading green energy and chemical
company founded in 1959 in Seoul, South Korea. It has developed a
diversified portfolio of products and solutions for a broad
spectrum of industries in the renewable energy sector, namely
polysilicon raw materials for solar cells, fumed silica vacuum
insulation panel (product: ENERVAC), sapphire ingots for LEDs and
solar photovoltaic power as well as chemical products for the petro
and coal chemical sector and the inorganic chemical and specialty
gases sector. OCI has a customer base spanning 80
countries with about $3 billion in sales in 2014. OCI has been
awarded Best Performing Chemical Company in the Dow Jones
Sustainability Index (DJSI) Asia Pacific Region for three years in
addition to earning ‘The Green Company Certification’ for the first
time in Korea in 2010. OCI has more than 4,800 employees and
operates in more than 20 overseas subsidiaries and regional
branches in Asia, the U.S. and Europe.
ABOUT CINER GROUP
Established in 1978, Ciner Group is primarily active in energy,
mining, shipping and media and is one of the largest conglomerates
in Turkey.
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version on businesswire.com: http://www.businesswire.com/news/home/20150720005697/en/
OCI Resources LPMedia Relations:Amy McCool,
770-375-2321amccool@ocienterprises.comorInvestor
Relations:Scott Humphrey,
770-375-2387shumphrey@ocienterprises.com
OCI RESOURCES LP (NYSE:OCIR)
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