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Sunday, July 30, 2017 2:52:19 PM
Alliance Holdings (NASDAQ:AHGP) and Alliance Resource Partners (NASDAQ:ARLP) announce an agreement to eliminate AHGP's incentive distribution rights in ARLP and convert its ~1% general partner interest in ARLP in exchange for the issuance to AHGP of 56.1M ARLP units.
ARLP now has ~130.7K common units outstanding, and AHGP now owns ~87.2M ARLP common units, a non-economic general partner interest in ARLP and a ~1% GP interest in ARLP operating subsidiary Alliance Resource Operating Partners.
the Alliance Partnerships are now positioned for a potential simplification at a later date in which ARLP would become the sole reporting and trading entity; management says it will evaluate the best timing and structure of any potential deal.
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