Regulatory Filings • Nov 8, 2013
Regulatory Filings
Open in ViewerOpens in native device viewer
Amsterdam, the Netherlands / 7 November, 2013 1:45 PM
OCI N.V. announced today that The Gavilon Group, a commodity management firm owned by Ospraie Management, General Atlantic, Soros Fund Management and OCI N.V., has reached an agreement to sell its energy business to NGL Energy Partners LP. The definitive agreement contemplates the sale of Gavilon's energy business on a cash-free, debt-free basis for a cash purchase price of US\$ 890 million, which includes approximately \$200 million of working capital, subject to a customary adjustment based on a target level of working capital to be delivered by Gavilon at the closing of the proposed transaction. The transaction is expected to close in December 2013, subject to customary closing conditions.
Gavilon's energy business principally operates integrated crude oil storage, terminal and pipeline assets located in Oklahoma, Texas and Louisiana, along with a complementary crude oil and refined products supply, marketing and logistics business.
The Gavilon grains and fertilizer businesses were acquired by Marubeni for US\$ 2.7 billion equity plus the assumption of US\$ 2 billion in debt in July 2013.
OCI expects to receive total cash proceeds from its share of ownership in both businesses to exceed US\$ 660 million.
OCI N.V. is a global nitrogen-based fertilizer producer and engineering & construction contractor based in the Netherlands. The Fertilizer Group owns and operates nitrogen fertilizer plants in the Netherlands, the United States, Egypt and Algeria and has an international distribution platform spanning from the Americas to Asia. The Fertilizer Group ranks among the world's top fertilizer producers with a fertilizer production capacity of nearly 7 million metric tons. The Construction Group provides international engineering and construction services primarily on infrastructure, industrial and high-end commercial projects in the United States, Europe, the Middle East, North Africa and Central Asia for public and private clients. The Construction Group ranks among the world's top global contractors. OCI N.V. employs more than 75,000 people in 35 countries around the globe and is listed on the NYSE Euronext in Amsterdam.
Hans Zayed Director Email: [email protected]
Erika Wakid Email: [email protected]
Tel: +44 207 439 4801
Fax: +44 207 439 4802
For additional information on OCI N.V.:
Mijnweg 1, 6167 AC Geleen, The Netherlands
OCI N.V. stock symbols: OCI / OCI.NA / OCI.AS / OCINY
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.