Seeking Alpha

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%.
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