SunCoke Energy (SXC) Approves IPO for its Master Limited Partnership

Article Stock Quotes (1) Comments (0)

SunCoke Energy, Inc. (NYSE: SXC) has approved the formation of a Master Limited Partnership (MLP) and the filing of a registration statement to effect the initial public offering (IPO) of the MLP. The key assets of the MLP are expected to be a portion of SunCoke Energy’s interests in each of its Haverhill and Middletown cokemaking facilities, located in Franklin Furnace, Ohio and Middletown, Ohio, respectively. SunCoke Energy would own the general partner of the proposed MLP, SunCoke Energy Partners, L.P., as well as all of the MLP incentive distribution rights and a portion of the units representing limited partner interests in the MLP.

SunCoke Energy expects to close the IPO of the MLP not earlier than the fourth quarter of 2012. Concurrently with the closing of the IPO, SunCoke Energy expects to receive a cash distribution from a portion of the net offering proceeds.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• LRAD Corp, (LRAD), Iroquois Master Fund Enter Settlement
• NewLead (NEWL) Receives Nasdaq Notice of Non-Compliance Over Late 20-F
• First Potomac Realty (FPO) Prices Larger 6.5M Common Stock Offering

Create E-mail Alert Related Categories

Corporate News, IPOs

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?