Sisecam Chemicals Resources LLC Delivers Proposal to Acquire Sisecam Resources LP
06 Julio 2022 - 9:05AM
Business Wire
On July 6, 2022, Sisecam Chemicals Resources LLC (“SCR”), delivered a non-binding proposal (the
“Proposal”) to the Board of Directors of Sisecam Resource Partners
LLC, the General Partner of Sisecam Resources LP (the “Issuer”) to acquire all of the outstanding common
units, representing limited partner interests in the Issuer not
already owned by SCR or its affiliates, in exchange for $17.90 per
issued and outstanding publicly held common unit of the
Partnership, which represents the thirty day volume weighted
average per share, as of July 5, 2022.
There can be no assurance that any discussions that may occur
between SCR and the Issuer with respect to the Proposal will result
in the entry into a definitive agreement concerning a transaction
or, if such a definitive agreement is reached, will result in the
consummation of the transaction contemplated in such definitive
agreement. Entry into a definitive agreement concerning a
transaction and the consummation of any such transaction is subject
to a number of contingencies that are beyond the control of SCR,
including the satisfactory completion of due diligence, the
approval of the conflicts committee of the Board of Directors of
Sisecam Resource Partners LLC, the approval by holders of a
majority of the outstanding common units of the Issuer (which would
be satisfied upon receipt of the approval of its two largest
stakeholders), and the satisfaction of any conditions to the
consummation of a transaction set forth in any such definitive
agreement.
FORWARD-LOOKING STATEMENTS
Certain information provided in this press release constitutes
forward-looking statements. Although SCR believes these statements
are based on information and assumptions that are current,
reasonable and complete, these statements are inherently subject to
a variety of risks and uncertainties pertaining to timing and
completion of the transaction. While SCR makes these
forward-looking statements in good faith, should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those expected. Except as may be required by applicable
securities laws, SCR assumes no obligation to publicly update or
revise any forward-looking statements made herein or otherwise,
whether as a result of new information, future events or
otherwise
IMPORTANT NOTICE TO INVESTORS
This press release is not a solicitation of a proxy, an offer to
purchase nor a solicitation of an offer to sell common units of the
Issuer. This press release is not a substitute for any proxy
statement or other filings that may be made with the Securities and
Exchange Commission (the “SEC”) by SCR
or the Issuer, as applicable, regarding a proposed transaction. If
any proxy statement or other filings regarding a proposed
transaction are made with the SEC, investors are urged to
thoroughly review them in their entirety because they will contain
important information. Any such proxy statement or other filings
regarding a proposed transaction will be available free of charge
at the SEC’s website (www.sec.gov) and from SCR and the Issuer, as
applicable.
ABOUT SISECAM CHEMICALS RESOURCES LLC
Sisecam Chemicals Resources LLC, a Delaware limited liability
company and successor by conversion to Ciner Resources Corporation,
a former Delaware corporation, is owned 60% by Sisecam Chemicals
USA Inc., a wholly-owned subsidiary of Turkiye Sise ve Cam
Fabrikalari A.S. (“Sisecam”) and 40%
by Ciner Enterprises Inc., a wholly-owned subsidiary of We Soda Ltd
of London, UK (“Ciner”). Sisecam is a
global player in soda ash and chromium chemicals, flat glass,
glassware, glass packaging and glass fiber sectors. Founded 86
years ago, it is one of the largest industrial publicly-listed
companies based in Turkey. With production facilities in four
continents and in 14 countries, Sisecam is one of the largest glass
and chemicals producers in the world.
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version on businesswire.com: https://www.businesswire.com/news/home/20220706005457/en/
Investor Relations Nedim Kulaksızoğlu Chief Financial Officer
(770) 375-2321 nkulaksizoglu@sisecam.com
Sisecam Resources (NYSE:SIRE)
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