Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Natural Resource Partners LP    NRP

Delayed Quote. Delayed  - 02/05 04:02:02 pm
1.09 USD   -1.80%
02/03 NATURAL RESOURC : ex-dividend day
01/27 NATURAL RESOURC : Announces 1-for-10 Reverse Unit Split
01/21 NATURAL RESOURC : Declares Quarterly Distribution
News SummaryMost relevantAll newsSector news 

Natural Resource Partners Buys Interest in Wyoming Soda-Ash Producer for $292.5 Million

01/23/2013 | 06:06pm US/Eastern
   By Debbie Cai 

Natural Resource Partners LP (>> Natural Resource Partners LP) has paid $292.5 million for an interest in OCI Wyoming LP, as well as some shares of the soda-ash producer from units of Anadarko Petroleum Corp. (>> Anadarko Petroleum Corporation).

NRP, which mainly owns coal, aggregate and oil and gas reserves in the U.S., said it bought a 48.51% general partner interest in OCI Wyoming; and 20% of the common shares and all of the preferred shares from Anadarko subsidiaries. NRP paid a net $292.5 million for the interests, after normal closing adjustments to the purchase price of $310 million.

The deal includes an earn-out provision, requiring NRP to pay Anadarko up to $50 million, on a net present value basis, over a three-year period if OCI Wyoming achieves specified revenue targets during that period.

NRP funded the purchase through a $200 million term loan, the issuance of $76.5 million in equity, including a general partner contribution of $1.5 million, and $16 million in cash.

OCI Wyoming, a subsidiary of South Korea's OCI Co. (>> Oci Co Ltd) that manufactures chemical products in the renewable energy sector, 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, Wyo.

NRP, which has a market capitalization of $2.35 billion, said it expects the transaction to be accretive to cash flow this year in a range of 18 cents to 22 cents a unit.

In November, NRP said it swung to a third quarter profit as coal production increased and coal royalty revenues rose.

Shares closed at $22.12 and were unchanged after hours. The stock is down 22% over the past 12 months.

Write to Debbie Cai at debbie.cai@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
02/03 NATURAL RESOURCE PARTNERS LP : ex-dividend day
01/27 NATURAL RESOURCE PARTNERS : Announces 1-for-10 Reverse Unit Split
01/27 NATURAL RESOURCE PARTNERS : Other Events (form 8-K)
01/21 NATURAL RESOURCE PARTNERS : Declares Quarterly Distribution
2015 NATURAL RESOURCE PARTNERS : to Present at Cowen and Company 6th Annual Global Me..
2015 NATURAL RESOURCE PARTNERS : Management's Discussion and Analysis of Financial Co..
2015 NATURAL RESOURCE PARTNERS : Results of Operations and Financial Condition, Finan..
2015 NATURAL RESOURCE PARTNERS : Reports Third Quarter Results
2015 NATURAL RESOURCE PARTNERS LP : ex-dividend day
2015 NATURAL RESOURCE PARTNERS : Declares Quarterly Distribution and Provides Update ..
News chart
Full-screen chart
Income Statement Evolution
More Financials