OCI N.V. Terminates Negotiations to Acquire All Publicly Held Common Units of OCI Partners LP
Apr 17, 2017
NEDERLAND, Texas, April 17, 2017 /PRNewswire/ -- OCI Partners LP (NYSE: OCIP), a Delaware limited partnership ("OCI Partners"), announced today that OCI N.V. (Euronext: OCI) ("OCI") has terminated negotiations with the conflicts committee of the board of directors of OCI Partners regarding OCI's previously announced offer to acquire all publicly held common units of OCI Partners in exchange for OCI shares, at an exchange ratio of 0.5200 OCI shares for each common unit. OCI currently owns 79.88% of issued and outstanding common units of OCI Partners.
After negotiations with the conflicts committee established by the OCI Partners board of directors reached an impasse, OCI informed representatives of the conflicts committee that no acceptable definitive agreement could be reached.
About OCI Partners LP
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont. The Partnership is headquartered in Nederland, Texas and currently has a methanol production design capacity of 912,500 metric tons per year and an ammonia production design capacity of 331,000 metric tons per year.
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SOURCE OCI Partners LP