One-Page Deal Sheet
American Real Estate Partners, L.P. Sells SandRidge Energy Shares
Sandridge Energy, Inc. Not Disclosed
Announced Date
January 04,2007
Close Date
September 01,2007
Transaction Type
Corporate
Location
Country
United States
State
New York
Transaction Details: Subscribe to see
American Real Estate Partners, L.P. (NYSE: ACP) ("AREP") today announced that its subsidiaries have signed agreements to sell their entire position in the common stock of SandRidge Energy, Inc. (formerly Riata Energy, Inc.) to a consortium of investors in a series of private transactions. The per share purchase price is $18, and total cash consideration to be received at closing will be approximately $243 million. This transaction completes AREP's sale of its oil & gas interests, for which AREP received consideration of approximately
$1.5 billion, realizing a profit of approximately $600…
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