Valero GP Holdings, LLC Commences Secondary Public Offering
12 Diciembre 2006 - 3:23PM
Business Wire
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.
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