Hilton Prices IPO; Valero Midstream Spinoff Trades Up on First Day
December 11, 2013 by Paul AusickThe IPO of Valero Energy Partners LP (NYSE: VLP) went off today at $23.00 per common unit. Valero Energy Corp. (NYSE: VLO) sold 15 million common units of the master limited partnership (MLP) which represents a stake of about 25.5% in the MLP. Valero raised $345 million in the IPO. Shares closed the day at $28.00 after rising as high as $28.59 in the mid-afternoon. Including underwriters’ options, public ownership of Valero Energy Partners will total 29.4%. Valero Energy Partners will get midstream assets in Sunray, Texas; Memphis, Tennessee; and Port Arthur, Texas.
Two more ARAMARK Holdings Corp. is expected to price its IPO later this evening and Cheniere Energy Partners LP Holdings is expected to price its first offering Thursday. Hybrid flash storage maker Nimble Storage is also expected to price its IPO on Thursday.
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