Enviva Partners, LP receives offer to acquire Sampson production plant

市場: 生物燃料
十月 18, 2016
Enviva Partners, LP announced that Enviva Wilmington Holdings, LLC (the “Hancock JV”), a joint venture between an affiliate of Enviva Holdings, LP and affiliates of John Hancock Life Insurance Company, has offered to sell the entity which owns the wood pellet production plant in Sampson County, North Carolina, along with a 10-year, 420,000 metric ton per year (“MTPY”) off-take contract with an affiliate of DONG Energy, to the Partnership.

The transaction also includes a 15-year, 95,000 MTPY off-take contract with the Hancock JV and a third-party shipping contract. As previously announced, the board of directors of the Partnership’s general partner has formed a Conflicts Committee comprised solely of independent directors to evaluate the offer.

The final purchase price and other terms are subject to negotiation with, and approval of, the Conflicts Committee, but the Partnership currently expects the final purchase price to be between $170 million and $180 million. Assuming terms of the acquisition are agreed upon, the Partnership expects the transaction to close on or about January 3, 2017.

Construction of the Sampson plant is complete and the plant is producing wood pellets for sale. The Sampson plant is expected to produce approximately 500,000 MTPY of wood pellets in 2017 and to reach its full production capacity of approximately 600,000 MTPY in 2019.

The Sampson plant is expected to generate incremental Adjusted EBITDA of approximately $22 million for 2017, increasing to approximately $27 million once full production capacity is achieved.

Assuming completion of the drop-down acquisition, the weighted average remaining term of the Partnership’s off-take contracts would extend to 9.7 years and our contracted revenue backlog would increase to $5.7 billion as of January 1, 2017.

Enviva Partners, LP is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets.



評論

喜歡這一點,你需要註冊。
要做到這一點,請輸入您的姓名和電子郵件地址。
名稱:
姓:
電子郵件:
性別:
如果您已經註冊,
請輸入您的詳細信息 這裡
要留下意見,你需要註冊。
要做到這一點,請輸入您的姓名和電子郵件地址。
名稱:
姓:
電子郵件:
性別:
如果您已經註冊,
請輸入您的詳細信息 這裡
我們歡迎通過相關的意見和數據推動故事的評論。如果你看到一個評論,您認為是無關緊要的或不適當的,可以將其標記為我們的編輯使用報告濫用鏈接。在表達意見的看法,並不代表Lesprom網絡。有關我們註釋策略的更多信息,請參見: http://www.lesprom.com/legal/comment_policy/
返回頁首