CVR Energy (CVI) Postpones CVR Partners MLP IPO Indefinitely
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Late Friday, CVR Energy, Inc. (NYSE: CVI) announced that the managing general partner of CVR Partners has decided to postpone indefinitely the initial public offering of CVR Partners.
Based upon a review of public offering alternatives for CVR Partners, the managing general partner has determined that current Master Limited Partnership (MLP) market conditions do not support the offering, which had been aimed at maximizing the value of the fertilizer business. The company believes maintaining the fertilizer business within CVR Energy provides greater value for its shareholders.
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