CVR Energy Reports Completion of Purchase of Common Units of CVR Refining
30 1월 2019 - 6:00AM
CVR Energy, Inc. (NYSE: CVI) (“CVR Energy”) announced today that it
has completed its previously announced purchase (the “Call Right
Purchase”) of all of the issued and outstanding common units
(“Common Units”) representing limited partner interests in CVR
Refining, LP (NYSE: CVRR) (the “Partnership”) not already owned by
CVR Refining GP, LLC, the general partner of the Partnership (the
“General Partner”) and an indirect wholly owned subsidiary of CVR
Energy, or the General Partner’s affiliates for a cash purchase
price, determined in accordance with the Partnership’s First
Amended and Restated Agreement of Limited Partnership, as amended
(the “Limited Partnership Agreement”), of $10.50 per Common Unit
(the “Call Price”), or approximately $241 million in the aggregate.
The Call Right Purchase was conducted in accordance with Article XV
of the Limited Partnership Agreement.
CVR Energy also has completed its previously announced purchase
of all of the Common Units held by American Entertainment
Properties Corp. and Icahn Enterprises Holdings L.P. for a cash
purchase price per unit equal to the Call Price, or approximately
$60 million in the aggregate (the “IEP Purchase,” and together with
the Call Purchase, the “Purchase”).
In connection with the Purchase, CVR Energy entered into a
credit agreement to provide for a term loan credit facility in an
aggregate principal amount of up to $105 million, for which the
amount is due on March 10, 2019.
As of today, CVR Energy owns, directly and indirectly, 100
percent of the Common Units, and all rights of the holders of the
Common Units whose Common Units were purchased in the Purchase have
been extinguished, except for the right to receive payment of the
purchase price. In addition, the Common Units have ceased to be
publicly traded or listed on the NYSE and will not be listed or
quoted on any other venue.
About CVR Energy, Inc. Headquartered in Sugar
Land, Texas, CVR Energy is a diversified holding company primarily
engaged in the petroleum refining and nitrogen fertilizer
manufacturing industries through its holdings in two limited
partnerships, CVR Refining, LP and CVR Partners, LP. CVR Energy and
its subsidiaries serve as the general partner and own 81 percent of
the common units of CVR Refining. CVR Energy subsidiaries serve as
the general partner and own 34 percent of the common units of CVR
Partners.
For further information, please contact:
Investor Contact: Jay Finks CVR Energy, Inc.
(281) 207-3588 InvestorRelations@CVREnergy.com
Media Relations:Brandee StephensCVR Energy,
Inc.(281) 207-3516MediaRelations@CVREnergy.com
Cvr Refining, LP Common Units Representing Limited Partner Interests (NYSE:CVRR)
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Cvr Refining, LP Common Units Representing Limited Partner Interests (NYSE:CVRR)
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