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WebFinancial Corp. said Dec. 31 that it completed through a merger transaction its conversion into a publicly traded limited partnership.
Additionally, the successor to WebFinancial Corp., WebFinancial LP, completed an exchange agreement under which Steel Partners II Master Fund LP will transfer its entire limited partnership interest in Steel Partners II LP to WebFinancial LP, effective Jan. 1, 2009.
As a result of the exchange, Steel Partners II Master Fund LP will own approximately 99% of the limited partnership interests in WebFinancial LP.
According...