HOUSTON--(BUSINESS WIRE)--Nov. 19, 2018--
Natural Resource Partners L.P. (NYSE: NRP) today announced that
NRP has signed a definitive agreement to sell its construction
aggregates business segment, VantaCore Partners LLC, to an affiliate of
Sun Capital Partners, Inc. for $205 million before transaction expenses
and customary purchase price adjustments. The closing of the sale is
expected to occur by year-end 2018 and is subject to customary closing
conditions, including clearance under the Hart-Scott-Rodino Antitrust
“The sale of our construction aggregates business segment will enable
NRP to substantially accelerate the de-levering and de-risking of our
capital structure and represents an exit from this business,” said Craig
Nunez, President and Chief Operating Officer of NRP.
Credit Suisse Securities (USA) LLC is acting as financial advisor to
NRP. Vinson & Elkins LLP is acting as legal advisor to NRP.
Natural Resource Partners L.P., a master limited partnership
headquartered in Houston, TX, is a diversified natural resource company
that owns interests in coal, aggregates, and industrial minerals
across the United States. A large percentage of NRP's revenues are
generated from royalties and other passive income. In addition, NRP owns
an equity investment in Ciner Wyoming, a trona/soda ash operation and
owns a construction aggregates company.
This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission.All statements, other
than statements of historical facts, included in this press release that
address activities, events or developments that the partnership expects,
believes or anticipates will or may occur in the future are
forward-looking statements.These statements are based on certain
assumptions made by the partnership based on its experience and
perception of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the
circumstances.Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the partnership.These risks include, but are not
limited to, commodity prices; decreases in demand for coal, oil, natural
gas, and aggregates and industrial minerals, including trona/soda ash;
changes in operating conditions and costs; production cuts by our
lessees; unanticipated geologic problems; our liquidity and access to
capital and financing sources; changes in the legislative or regulatory
environment and other factors detailed in Natural Resource Partners’
Securities and Exchange Commission filings. Natural Resource Partners
L.P. has no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
For additional information please contact Kathy Roberts at 713-751-7555
or firstname.lastname@example.org. Further
information about NRP is available on the partnership’s website at http://www.nrplp.com.
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Source: Natural Resource Partners L.P.
Natural Resource Partners L.P.
Kathy Roberts, 713-751-7555