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Carl Icahn Discloses Stake in Rentech Nitrogen Partners LP (RNF) Under Merger with CVR Partners LP (UAN)

Billionaire activist investor Carl Icahn has disclosed a 59.7% stake in Rentech Nitrogen Partners LP (NYSE:RNF), which contains 23.25 million common units representing limited partner interests, and which was obtained following the company’s merger with CVR Partners LP (NYSE:UAN). CVR Partners was formed by CVR Energy, Inc. (NYSE:CVI) to operate its nitrogen fertilizer business. CVR Energy subsidiaries own a majority of CVR Partners common stock, while Icahn controls around 80% of CVR Energy. Carl Icahn’s firm, Icahn Enterprises LP (NASDAQ:IEP), and its affiliates received the shares under the terms of a Voting Agreement with Rentech.

The execution of the merger between Rentech Nitrogen Partners LP (NYSE:RNF) and CVR Partners LP (NYSE:UAN) was announced on August 10. Under the terms of the merger agreement, CVR Partners will acquire all outstanding units of Rentech Nitrogen, excluding the latter’s Pasadena facility, which will remain under control of the current holders of Rentech Nitrogen or will be sold for their benefit...