Materials M&A » By The Online Investor Staff, updated Tue., Apr. 23, 7:15 AM
Recent mergers and acquisitions in the Materials M&A category.
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Slide #74. Rentech Nitrogen Partners, L.P. — Agrifos LLC
Acquirer:
Rentech Nitrogen Partners, L.P. (RNF)
Acquiree:
Agrifos LLC
Details:
Rentech Nitrogen Partners, L.P. announced that it has entered into a definitive agreement with Agrifos Holdings Inc. to purchase all of the membership interests of Agrifos LLC, for an initial purchase price of $158 million. Agrifos owns and operates a plant in Pasadena, Texas, that produces primarily ammonium sulfate fertilizer. The initial consideration is to consist of $138 million of cash, to be provided through an amended credit facility, and $20 million of common units of Rentech Nitrogen. The acquisition is expected to be accretive to cash available for distribution per unit beginning in 2013. Rentech Nitrogen will host a conference call today at 7:00 a.m. PDT to provide additional details regarding the transaction.
Rentech Nitrogen Partners is a holding company. Through its subsidiaries, Co. owns and operates fertilizer business. Co. owns and operates two fertilizer facilities: East Dubuque Facility and Pasadena Facility. Co.'s East Dubuque Facility produces ammonia, urea ammonium nitrate solution, liquid and granular urea, nitric acid and food-grade carbon dioxide. Co. produces ammonium sulfate, ammonium thiosulfate and sulfuric acid at its Pasadena Facility. Co.'s Pasadena Facility's products are applied to various types of crops including soybeans, potatoes, cotton, canola, alfalfa, corn and wheat.
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