PE Investors Reducing CVR Stakes

CVR Energy (NYSE: CVI), a refiner of petroleum and producer of fertilizer products, has filed for a secondary public offering of 15 million shares of common stock. While the company will not receive any proceeds from the offering, Goldman Sachs and Kelso & Co. both intend to sell shares, reducing their stakes from 28% to 20% and 36% to 26%, respectively. Underwriting for the offering is being led by Deutsche Bank and Goldman Sachs.