CVR Energy, Inc. entered into common unit purchase agreement to acquire 3.9% stake in CVR Refining, LP from American Entertainment Properties Corp. and Icahn Enterprises Holdings L.P for $60.4 million.

CVR Energy, Inc. (NYSE:CVI) entered into common unit purchase agreement to acquire 3.9% stake in CVR Refining, LP (NYSE : CVRR) LP from American Entertainment Properties Corp. and Icahn Enterprises Holdings L.P for $60.4 million on January 17, 2019. Under the terms of the agreement, the purchase price paid by CVR Energy per common unit of CVR Refining is $10.5. In connection with the acquisition, CVR Energy intends to enter into a bridge facility in an aggregate principal amount not to exceed the amount necessary to fund the acquisition and the call purchase transaction.

The transaction is subject to consummation of call purchase transaction ("call purchase") under which CVR Refining, LP (the “Partnership”) an indirect wholly-owned subsidiary of the CVR Energy, has assigned to the CVR Energy its right to purchase all of the issued and outstanding common units representing limited partner interests in the Partnership not already owned by the CVR Refining GP, LLC, general partner of CVR Energy or its affiliates. The transaction is expected to close on January 29, 2019. American Stock Transfer & Trust Company, LLC acted as transfer agent to CVR Energy, Inc.