CresaPartners Packages & Sells River Terminals for CF Industries
GROWMARK Purchases Four Specialized Ag/Industrial Properties
CHICAGO, IL – February 17, 2011 – The Chicago office of CresaPartners successfully completed the disposition of four river terminals and dry product warehouse storage facilities with related assets on behalf of CF Industries Holdings, Inc. (NYSE: CF) to GROWMARK, Inc. The terms of the sale were not disclosed.
“These properties are a very unique asset type. The sale was a hybrid of a real estate and M&A transaction,” said Bradley Metzger, Managing Partner of CresaPartners Chicago office. “Putting together a valuation required real estate, agriculture business, and supply chain expertise. Ultimately, we overlaid the underlying real estate values with the potential profitability each site offered to a prospective buyer.”
Lynn White, CF Industries’ Vice President of Corporate Development added, “CresaPartners did a highly professional job working with us on this complex transaction. From valuation through sale process design and execution, CresaPartners met their commitments, demonstrated flexibility and creativity, and were key to ensuring that we achieved a satisfactory outcome for the disposition.”
“It is hard to put a value on something that doesn’t sell very often, or if it does it is part of the acquisition of the entire company. Our process and strategy in bringing these assets to market allowed the company to test the valuations and be confident they were appropriate,” said Liz Roberts, CresaPartners Vice President.
CresaPartners’ team –Bradley Metzger, Managing Partner; Sheila Matuscak, Managing Partner; Liz Roberts, Vice President; Chad Bermingham, Vice President and Robert Wheeler, Vice President – provided a platform of integrated services to CF Industries including strategic planning, valuation methodology development, transaction management and disposition negotiation via a sealed bid process.
The facilities support seasonal distribution patterns for dry fertilizers and are located on major navigable rivers near located in St. Louis, MO, Cincinnati, OH, Peoria, IL and Albany, IL.
CF Industries’ outside counsel, Harlan Robins and Jessica Parker, of Baker Hostetler LLP, were also a critical partner to the team, coordinating the complex due diligence and documentation for the project.
About CF Industries Holdings, Inc.
CF Industries Holdings, Inc., headquartered in Deerfield, Illinois, is the holding company for the operations of CF Industries, Inc. CF Industries is a global leader in nitrogen and phosphate fertilizer manufacturing and distribution, serving both agricultural and industrial customers. CF Industries operates world-class nitrogen fertilizer manufacturing complexes in the central United States and Canada; conducts phosphate mining and manufacturing operations in Central Florida; and distributes fertilizer products through a system of terminals, warehouses, and associated transportation equipment located primarily in the Midwestern United States. The company also owns 50 percent interests in GrowHow UK Limited, a fertilizer manufacturer in the United Kingdom; an ammonia facility in The Republic of Trinidad and Tobago; and KEYTRADE AG, a global fertilizer trading organization headquartered near Zurich, Switzerland. CF Industries routinely posts investor announcements and additional information on the company's website at www.cfindustries.com and encourages those interested in the company to check there frequently.
About CresaPartners
CresaPartners is an international corporate real estate advisory firm that exclusively represents the user. It specializes in the delivery of fully integrated real estate services, including: Account Management, Lease Administration, Strategic Planning, Workforce and Location Planning, Transaction Management, Project Management, Capital Markets, Sustainability, Supply Chain Consulting and Facilities Management. With more than 50 offices, CresaPartners is the largest user focused real estate firm in North America. Internationally, CresaPartners covers more than 125 locations in 35 countries. For more information, visit www.cresapartners.com.
About Baker Hostetler LLP
Founded in 1916, Baker Hostetler is among the nation's 100 largest law firms with 700 attorneys coast to coast, delivering the highest quality legal counsel on the most complex and critical issues facing clients today. The firm has offices in Chicago, Cincinnati, Cleveland, Columbus, Costa Mesa, Denver, Houston, Los Angeles, New York, Orlando and Washington, D.C. Its five primary practice groups are Business, Employment, Intellectual Property, Litigation and Tax. For more information, please visit www.bakerlaw.com.
CONTACT: Liz Roberts, Vice President
312.376.4113, lroberts@cresapartners.com
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