09:13 AM EST, 03/03/2025 (MT Newswires) -- Genesis Energy (GEL) said Monday that it has completed the sale of its soda ash manufacturing and operations to an indirect affiliate of WE Soda for an implied enterprise value of $1.43 billion.

Genesis said the overriding royalty interest bonds, which have approximately $390 million of remaining principal, will remain in place and will be an ongoing obligation of the soda ash operations. It also said it received approximately $1.01 billion in cash, net of all adjustments and after the payment of related fees and expenses.

The company said it will use the cash proceeds to pay down its senior secured revolving credit facility, permanently retire unsecured debt, and repurchase corporate convertible preferred equity securities.

Shares were 5.1% higher in recent premarket activity.