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CVR Energy weighs potential sale, to sell Cushing terminal

May 21, 2019 5:04 PM ETCVR Energy, Inc. (CVI) Stock, PAA StockBy: Carl Surran, SA News Editor7 Comments
  • CVR Energy (NYSE:CVI) +3.7% after-hours on news it hired BofA Merrill Lynch as its financial advisor to assist it in evaluating strategic alternatives, including a potential sale.
  • CVR also says it agreed to sell its 1.5M-bbl Cushing, Okla., crude oil terminal to Plains All American Pipeline (NASDAQ:PAA) for $36M.
  • Carl Icahn took a controlling state in the company in 2012, and Icahn Associates owned 71% of CVR shares as of April 10, according to Bloomberg data.

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