NTR Acquisition to terminate agreement to acquire Kern Oil & Refining

NTR Acquisition has mutually agreed with Casey, the sole shareholder of Kern Oil & Refining, to terminate a stock purchase agreement.

Under the agreement, NTR would have acquired all outstanding shares of Kern for a base purchase price of $286.5 million.

Mario Rodriguez, CEO of NTR Acquisition, said: We remain committed to executing our business plan. Based on the experience and relationships of NTR’s senior team, we continue to see a strong pipeline of potential deals and will pursue acquisition opportunities that maximize value to our shareholders.