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 May 2012 acquisition of a
controlling interest in the Company by certain affiliates of Icahn
Enterprises L.P. (collectively, "IEP") (NASDAQ: IEP).
(Logo: http://photos.prnewswire.com/prnh/20071203/CVRLOGO)
In May 2012, 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
$30 per share plus one CCP,
representing the contractual right to receive an additional cash
payment if the Company was sold at a price exceeding $30 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 July
2012 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.
Headquartered in 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:
Investor Relations:
Jay
Finks
CVR Energy, Inc.
281-207-3588
InvestorRelations@CVREnergy.com
Media Relations:
Angie
Dasbach
CVR Energy, Inc.
913-982-0482
MediaRelations@CVREnergy.com
SOURCE CVR Energy, Inc.