Valero (NYSE:VLI)
Historical Stock Chart
From Jul 2019 to Jul 2024
Valero GP Holdings, LLC (NYSE: VEH), the owner of the general partner of
Valero L.P. (NYSE: VLI), announced today that it will commence a
secondary public offering of 17,869,565 of its units representing
limited liability company interests pursuant to a registration statement
on Form S-1 previously filed with the Securities and Exchange
Commission. The underwriters will be granted a 30-day option to purchase
up to 2,680,435 additional units. If the underwriters exercise such
option in full, the ownership interest of subsidiaries of Valero Energy
Corporation in Valero GP Holdings, LLC will be reduced to zero. All of
the units being sold are offered by subsidiaries of Valero Energy
Corporation (NYSE: VLO). As a result, Valero GP Holdings, LLC will not
receive any proceeds from this offering.
Lehman Brothers Inc., UBS Investment Bank, Citigroup Global Markets,
Inc. and Morgan Stanley & Co. Incorporated will act as joint
book-running managers. Acting as co-managers for the offering are
Goldman Sachs & Co., RBC Capital Markets Corporation, Wachovia Capital
Markets, LLC, A.G. Edwards & Sons, Inc., Raymond James & Associates,
Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities Inc.,
Oppenheimer & Co. Inc., and Sanders Morris Harris Inc.
A copy of the prospectus relating to this offering may be obtained from
any of the underwriters, including Lehman Brothers Inc., c/o ADP
Financial Services, Integrated Distribution Services, 1155 Long Island
Avenue, Edgewood, NY 11717, fax: 631-254-7268, email: monica_castillo@adp.com
or from UBS Investment Bank at 299 Park Avenue, Prospectus Department,
New York, NY, 10171, phone: 212-821-3000.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective.
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. The offering may be made only by means of a
prospectus.
Valero GP Holdings, LLC is a publicly traded limited liability company
that owns the 2 percent general partner interest, a 21.4 percent limited
partner interest and the incentive distribution rights in Valero L.P.,
one of the largest independent terminal and petroleum liquids pipeline
operators in the nation with operations in the United States, the
Netherlands Antilles, Canada, Mexico, the Netherlands and the United
Kingdom. For more information, visit Valero GP Holdings, LLC’s
web site at www.valerogpholdings.com.
Valero L.P. is a publicly traded, limited partnership based in San
Antonio, with 9,303 miles of pipeline, 86 terminal facilities and four
crude oil storage facilities. One of the largest independent terminal
and petroleum liquids pipeline operators in the nation, the partnership
has operations in the United States, the Netherlands Antilles, Canada,
Mexico, the Netherlands and the United Kingdom. The partnership’s
combined system has approximately 77 million barrels of storage
capacity, and includes crude oil and refined product pipelines, refined
product terminals, a petroleum and specialty liquids storage and
terminaling business, as well as crude oil storage tank facilities. For
more information, visit Valero L.P.'s web site at www.valerolp.com.