|
|
Article: Natural Resource Partners L.P. Closes Transaction With The Cline Group.
- Article from:
- PR Newswire
- Article date:
- January 4, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
HOUSTON, Jan. 4 /PRNewswire-FirstCall/ -- Natural Resource Partners L.P. and , announced today that it has closed its previously announced transaction with Adena Minerals, LLC, an affiliate of The Cline Group. The transaction includes the purchase of coal reserves, transportation assets and a right to acquire up to 3 billion additional tons of coal reserves and related infrastructure. NRP issued 3,913,080 common units and 541,956 newly issued Class B units. In addition, the general partner of Natural Resource Partners issued Adena Minerals a 22% interest in the general partner and in the outstanding incentive distribution rights. Following the issuance of the new ...