Sugar Land, Texas — CVR Energy Inc. on May 14 informed CVR Partners LP that it has determined not to proceed with a public offering of the LP’s common units at this time. Accordingly, the LP has submitted a letter to the Securities and Exchange Commission requesting the withdrawal of the LP’s Registration Statement on Form S-1, File No. 333-179930, and all exhibits thereto. CVR Energy owns the LP’s general partner and approximately 70 percent of its common units representing limited partner interests. Prior to majority ownership by billionaire investor Carl Icahn, CVR Energy had planned to sell some of its LP shares and use the proceeds for a special dividend to CVR Energy shareholders. Currently, Icahn is seeking to further increase his 69 percent stake in CVR Energy, with a tender set to close May 18 at 11:59 p.m. EST (GM May 14, p. 14). In the meantime, a spokesman for CVR Energy and CVR Partners told Green Markets that the Coffeyville nitrogen plant may not be sold after all. A spokesman said while Icahn has said he would sell CVR Energy, and thereby its majority stake in CVR Partners, which owns Coffeyville Resources Nitrogen Fertilizers, that this is not the same as selling the nitrogen plant, which would be an entirely different process as it is a distinct subsidiary of CVR Partners. The spokesperson reiterated that Icahn has not stated that he actually plans to sell the nitrogen plant.
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