SUGAR LAND, Texas
Aug. 19, 2013
/PRNewswire/ -- CVR Energy, Inc. (the "Company") (NYSE: CVI) today announced the expiration of the contingent cash payment rights ("CCPs") issued in connection with the
acquisition of a controlling interest in the Company by certain affiliates of Icahn Enterprises L.P. (collectively, "IEP") (NASDAQ: IEP).
, following the close of a tender offer, IEP obtained control of the Company and currently owns approximately 82 percent of the Company's common stock. The terms of the tender offer included payment of
per share plus one CCP, representing the contractual right to receive an additional cash payment if the Company was sold at a price exceeding
per share on or before
Aug. 18, 2013
, and such transaction closed. There has been no sale of the Company, and the rights associated with the CCPs have now expired. Except for the previously announced 60-day sales process that expired in
without the receipt of a bona fide offer, IEP has not been actively attempting to sell the Company, and no fees or expenses have been incurred through
Aug. 18, 2013
About CVR Energy, Inc.
Sugar Land, Texas
, CVR Energy is a diversified holding company primarily engaged in the petroleum refining and nitrogen fertilizer manufacturing industries through its holdings in two limited partnerships, CVR Refining, LP and CVR Partners, LP. CVR Energy subsidiaries serve as the general partner and own a majority of the common units representing limited partner interests of CVR Refining and CVR Partners.
For further information, please contact:
CVR Energy, Inc.281-207-3588
CVR Energy, Inc. 913-982-0482
SOURCE CVR Energy, Inc.