Is Terra Nitrogen Co. L.P. a good buy? (TNH) Message Board

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Non-Tech : Is Terra Nitrogen Co. L.P. a good buy? (TNH)

TNH 83.96

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Apr 2 5:00 PM EST

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To: william liao who wrote (63)	9/29/1997 1:24:00 PM
From: jhild	of 91

William, all I know is what I read in the Edgar filings. The latest 13D filed on April 7, lists TNC, Terra Capital, Minorco, AngloAmerican, and DeBeers. Just look at the end on the 13D and work backwards. There are a lot of South African addresses. In reading through ownership Taurus owns 49.8% of Terra Capital Minorco owns 100% of Taurus (Note, Taurus located in Luxembourg) Anglo American owns 45.8% of Minorco Debeers owns 22.6% of Minorco At this point it gets obscure, because Debeers owns part of Anglo American and Anglo American owns part of Debeers. (Substantial parts) A director of Anglo American, Nicholas Oppenheimer, is on board of TNC and Minorco and also owns about 7% of Minorco. It would look to me like this money for capital ownership is primarily flowing from South Africa. Personally, I don't care as I am an equal opportunity investor. I just thought it was interesting. TNC and related parties seem to own about 12,140,000 shares. These related parties account for 65.7% and count toward the 75% ownership of the class of common units. You can check this out at: edgar-online.com

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