By Dean Seal
Genesis Energy said it has made more than $1 billion by closing the sale of its soda ash manufacturing operations to an indirect affiliate of WE Soda.
The transaction values the alkali business at $1.425 billion, including working capital, at closing. Genesis has received about $1.01 billion in cash, after adjustments and the payment of anticipated deal costs.
Genesis said it can now focus on leading the midstream energy space with a simpler capital structure. It plans to use the cash proceeds to pay off debt.
Shares ticked up 1.3% to $13 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 03, 2025 08:27 ET (13:27 GMT)
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