Atlas Energy, L.P. Announces Sale of International Resource Partners by Lightfoot Capital for $475 Million
07 Mars 2011 - 2:26PM
Business Wire
Atlas Energy, L.P. (NYSE: AHD) (“Atlas”) announced today that
International Resource Partners LP (“IRP”), a metallurgical and
steam coal business formed by Lightfoot Capital Partners, LP
(“Lightfoot”), has entered into an agreement to be acquired by
James River Coal Company (NASDAQ: JRCC) for $475 million in cash.
The transaction is expected to close in the first half of 2011,
subject to closing conditions.
Atlas Chairman and Lightfoot Chairman and co-founder Jonathan Z.
Cohen stated, “This transaction is a significant accomplishment for
Lightfoot and Atlas, as we have realized the strong value of IRP’s
operations, after our team acquired and developed these assets for
several years.”
Atlas and its partners formed Lightfoot in 2007 to acquire
investments in energy-related assets and businesses, and Lightfoot
also is the general partner and largest limited partner of IRP.
Atlas owns 18% of the general partner of Lightfoot. Lightfoot will
continue to operate its existing assets and will pursue further
opportunities to expand its business.
Atlas Energy, L.P. (NYSE: AHD), formerly Atlas Pipeline
Holdings, L.P., is a master limited partnership which owns and
operates the general partner of Atlas Pipeline Partners, L.P.
(NYSE: APL), through which it owns a 2% general partner interest,
all the incentive distribution rights and approximately 5.75
million common limited partner units of APL. Additionally, AHD owns
an interest in over 8,500 producing natural gas and oil wells,
representing over 185 Bcfe of net proved developed reserves. For
more information, please visit our website at www.atlasenergy.com, or contact Investor Relations
at InvestorRelations@atlasenergy.com.
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number of assumptions, risks and uncertainties that could cause
actual results to differ materially from those contained in the
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future financial and operating results, resource potential, the
potential effect of Atlas Energy’s ceasing to be a controlled
company, the potential effect of Atlas Pipeline Partners’ sale of
its interest in Laurel Mountain Midstream and Atlas Energy’s plans,
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on reasonable assumptions, no assurance can be given that these
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circumstances and results may differ materially from those
indicated by these forward-looking statements due to a variety of
risks and uncertainties. Other risk factors relating to Atlas
Energy’s business and its industry as detailed from time to time in
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Commission. Atlas Energy undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. The reader
is directed to Atlas Energy’s filings with the U.S. Securities and
Exchange Commission, including quarterly reports on Form 10-Q,
reports on Form 8-K and its annual reports on Form 10-K, for a
discussion of such risks and uncertainties.
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