Genesis Energy rises after selling soda ash operations for $1.43 bln

Genesis Energy LP

03/03/2025 14:04

** Shares of pipeline operator Genesis Energy GEL.N rise 5% to $13.49 premarket

** Co closes sale of its soda ash manufacturing and related operations to an indirect unit of WE Soda for $1.43 billion

** Says $1.01 billion in proceeds will be used to reduce debt and buy back shares

** GEL had acquired the alkali business from Tronox in 2017 for about $1.33 billion in cash to expand into the chemicals sector

** As of last close, shares were up 27% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))