Pledge Servicing Partners, LLC entered into an agreement to acquire Substantially All Assets of Rhino GP LLC and Rhino Resource Partners LP for $40 million.

Pledge Servicing Partners, LLC entered into an agreement to acquire Substantially All Assets of Rhino GP LLC and Rhino Resource Partners LP (OTCPK:RHNO) for $40 million on July 22, 2020. Pledge Servicing Partners will pay a consideration of $40 million and will assume all liabilities. The transaction is subject to approval by the bankruptcy court. Douglas L. Lutz of Frost Brown Todd LLC acted as legal advisor to Rhino Resource. Frank A. Merola of Stroock & Stroock & Lavan LLP and Mary Beth Naumann of Jackson Kelly PLLC acted as legal advisors to Pledge Servicing Partners. Evercore Group L.L.C acted as financial advisor to Rhino GP LLC and Rhino Resource Partners.