Rentech +13% as Blackstone to invest $150M, get two board seats

Rentech (RTK +13.2%) shares surge on news that Blackstone Group's credit arm will invest $150M in the company in return for two board seats.

RTK says the funds are intended to give its wood fibre processing business the scale necessary for a possible IPO as an MLP.

Blackstone's GSO Capital partners co-founder Douglas Ostrover and former Smurfit-Stone Container CEO Patrick Moore will join RTK's board.

RNF +2.9%.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs