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Valero Energy Corp's Board Approves Spinoff Of Retail Business-Reuters


Thursday, 4 Apr 2013 06:34pm EDT 

Reuters reported that Valero Energy Corp's Board of Directors approved the spinoff of its retail business, CST Brands Inc. Energy companies have increasingly looked to split off business units as a means of achieving a higher valuation for them. Valero said last summer that it would explore options for the gasoline and convenience stores it owns in the United States and Canada, including a spinoff that gives its shareholders ownership of the retail unit. 

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