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Stock impact report

Genesis Energy, L.P. Announces the Sale of its Soda Ash Operations

Genesis Energy, L.P. Common Units (GEL) 
Last genesis energy, l.p. common units earnings: 2/19 06:10 am Check Earnings Report
US:NYSE Investor Relations: genesisenergy.com/investors
Company Research Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced that it has closed a transaction to sell its soda ash manufacturing and related operations (the “Alkali Business”) to an indirect affiliate of WE Soda Ltd. Transaction highlights include:The implied enterprise value of the Alkali Business is $1.425 billion, inclusive of working capital at closing;The ORRI bonds, with approximately $390 million of remaining principal net of restricted cash, will stay in place and be an ongoing obligation of the Alkali Business; andAs a result, Genesis has received approximately $1.010 billion in cash, net of all adjustments and after the payment of anticipated transaction related fees and expensesGrant Sims, CEO of Genesis Energy, said, “This transaction gives Genesis the financial flexibility to accelerate the process of simplifying our capital structure. With the sale of the Alkali Business, our primary focus will once again be on the midstream energy space and our industr Show less Read more
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