NEDERLAND, Texas, April 17, 2017 /PRNewswire/ -- OCI Partners LP (NYSE: OCIP), a Delaware limited partnership ("OCI Partners"), announced today that OCI N.V. (Euronext: OCI) ("OCI") has terminated negotiations with the conflicts committee of the board of directors of OCI Partners regarding OCI's previously announced offer to acquire all publicly held common units of OCI Partners in exchange for OCI shares, at an exchange ratio of 0.5200 OCI shares for each common unit. OCI currently owns 79.88% of issued and outstanding common units of OCI Partners.
After negotiations with the conflicts committee established by the OCI Partners board of directors reached an impasse, OCI informed representatives of the conflicts committee that no acceptable definitive agreement could be reached.
About OCI Partners LP
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont. The Partnership is headquartered in Nederland, Texas and currently has a methanol production design capacity of 912,500 metric tons per year and an ammonia production design capacity of 331,000 metric tons per year.
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This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
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SOURCE OCI Partners LP