OCI N.V. Announces Completion of the Buyout and Delisting of OCI Partners LP Common Units
17 July 2018
OCI N.V. (Euronext: OCI) (“OCI”) today announced that it and its affiliate OCIP Holding II LLC exercised their right, pursuant to Section 15.1(a) of the First Amended and Restated Agreement of Limited Partnership of OCI Partners LP (“OCIP”), to purchase all of the outstanding common units representing limited partner interests (“Common Units”) in OCIP that were not previously tendered pursuant to the previously announced tender offer. OCI now owns 100% of the Common Units. The Common Units have been suspended from trading and will be delisted from the New York Stock Exchange.
“I am pleased with the successful completion of the tender offer, which will result in a simplification of the group’s corporate and capital structures”, Nassef Sawiris, Chief Executive Officer of OCI N.V. commented. “It also allows for the streamlining of our operations and distribution activities allowing for synergy realization with our other US assets, as well as a cost reduction with the removal of public company listing costs”.