Genesis Energy Sells Alkali Business to WE Soda for Over $1 Billion

Dow Jones

03-03

By Dean Seal

Genesis Energy said it has made more than $1 billion by closing the sale of its soda ash manufacturing operations to an indirect affiliate of WE Soda.

The transaction values the alkali business at $1.425 billion, including working capital, at closing. Genesis has received about $1.01 billion in cash, after adjustments and the payment of anticipated deal costs.

Genesis said it can now focus on leading the midstream energy space with a simpler capital structure. It plans to use the cash proceeds to pay off debt.

Shares ticked up 1.3% to $13 in premarket trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

March 03, 2025 08:27 ET (13:27 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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