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Stock Market & Financial Investment News

News Breaks
January 23, 2013
17:08 EDTNRP, APCNatural Resource Partners acquires interest in OCI Wyoming
Natural Resource Partners (NRP) reported that it has acquired a 48.51% general partner interest in OCI Wyoming L.P. and 20% of the common shares and all of the preferred shares of OCI Wyoming Co. from subsidiaries of Anadarko Petroleum Corporation (APC). OCI Wyoming is the world's fifth-largest producer of soda ash. It operates a trona ore mining operation and a soda ash refinery in Green River, Wyoming. NRP paid a net $292.5M for the interests, after normal closing adjustments to the purchase price of $310M. The agreement also contains an earn-out provision, which would require NRP to pay Anadarko up to $50M, on a net present value basis, over a three-year period if OCI Wyoming L.P. achieves specified revenue targets during that period. NRP expects the transaction to be accretive to cash flow in 2013 in a range of 18c to 22c per unit.
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