Ciner Enterprises Inc. Signs Definitive Agreement to Sell a Controlling Interest in Ciner Resources Corporation, Which Owns the Controlling General Partner and Limited Partner Interests in Ciner Resources LP, to Sisecam Chemicals USA Inc.

Rhea-AI Summary

Ciner Enterprises Inc. has finalized an agreement to sell 60% of Ciner Resources Corporation (CRC) to Sisecam Chemicals USA Inc., a subsidiary of Turkiye Sise ve Cam Fabrikalari A.S. This sale involves a controlling interest in CRC, which holds a 72% limited partner interest in Ciner Resources LP (NYSE: CINR) and 2% general partner interest. If completed, this transaction will result in a change of control for Ciner Resources, impacting shareholders and governance.

Positive

• None.

Negative

• Potential change of control in Ciner Resources raises uncertainties for existing shareholders.
• The sale may lead to shifts in strategic direction that could affect future performance.

ATLANTA--(BUSINESS WIRE)-- Ciner Enterprises Inc. (CEI), a wholly owned subsidiary of We Soda Ltd of London, UK, has signed a definitive agreement to sell 60% of Ciner Resources Corporation (CRC) to Sisecam Chemicals USA Inc., a wholly owned subsidiary of Turkiye Sise ve Cam Fabrikalari A.S. of Istanbul, Turkey. CRC owns an approximately 72% limited partner interest in Ciner Resources LP (NYSE: CINR) (“Ciner Resources” or the “Partnership”), as well as its 2% general partner interest and related incentive distribution rights, and so the sale of a controlling interest in CRC, if completed, will result in a change of control for Ciner Resources.

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Investor Relations

Ahmet Tohma

Chief Financial Officer

(770) 375-2321

atohma@ciner.us.com

Source: Ciner Resources LP

FAQ

What is the significance of Ciner Enterprises selling 60% of Ciner Resources Corporation?

The sale indicates a potential change of control for Ciner Resources LP (NYSE: CINR), which could influence its operations and governance.

Who is acquiring the 60% stake in Ciner Resources Corporation?

Sisecam Chemicals USA Inc., a subsidiary of Turkiye Sise ve Cam Fabrikalari A.S, is acquiring the stake.

What impact does the sale of Ciner Resources Corporation have on shareholders?

The sale could create uncertainties for shareholders regarding future management and strategic decisions.

What interests does Ciner Resources Corporation hold?

CRC owns a 72% limited partner interest and a 2% general partner interest in Ciner Resources LP (NYSE: CINR).