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

|By:, SA News Editor

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%.