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Valero sells rest of CST stake

  • Six months after the spinoff of CST Brands (CST +1.2%), Valero (VLO -0.8%) has sold the rest of its stock in the convenience store operator after a public offering of about 15.1M shares (including the underwriter greenshoe).
  • It appears Valero sold at its first opportunity given a previous promise to hold the share for 6-18 months.
  • Press release.
Comments (2)
  • joelkatz
    , contributor
    Comments (456) | Send Message
     
    This server as an alert to short CST
    17 Nov 2013, 03:19 PM Reply Like
  • Value Plus Incentives
    , contributor
    Comments (75) | Send Message
     
    On the contrary, selling pressure has dissipated. CST is now up ~20% from spin-off date now. Probably fairly valued now, but over the long-term this Company has legs. Great niche within retail.
    21 Dec 2013, 12:16 PM Reply Like
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