Rentech Nitrogen Partners, L.P. announced that its board of directors has initiated a process to explore and evaluate potential strategic alternatives for the partnership, which may include a sale of the partnership, a merger with another party, a sale of some or all of the assets of the partnership, or another strategic transaction.
The Board of Directors of Rentech, Inc., which is the General Partner of, and owns approximately 60% of the common units of, the partnership, concurred with the partnership's decision to explore its strategic alternatives.
Rentech Nitrogen has retained Morgan Stanley as its financial advisor to assist with the strategic review process. The partnership stated that there can be no assurance that this strategic review process will result in a transaction.
Rentech Nitrogen has not set a timetable for completion of the review process, and it does not intend to comment further regarding the review process unless a specific transaction is approved by its Board of Directors, the review process is concluded, or it is otherwise determined that further disclosure is appropriate or required by law.