M&A - GENESIS ENERGY LP

Form Type: 8-K

Filing Date: 2025-03-05

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525047270

Filing Summary: On February 28, 2025, Genesis Energy, L.P. entered into a membership interest purchase agreement to sell its Alkali Business, which includes trona and trona-based operations, to WE Soda US LLC for $1.425 billion in cash. After deducting transaction costs, Genesis expects to receive approximately $1.010 billion. Concurrently, Genesis amended its credit agreement to allow this transaction and made changes including reducing borrowing capacity from $900 million to $800 million. On March 4, 2025, Genesis announced a redemption of its 2027 Notes, providing a 102% redemption price for holders on April 3, 2025. Edward T. Flynn, the Executive Vice President, will cease his role following the transition until his retirement on June 30, 2025.