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Hess tags Goldman Sachs to help with sale

July 3, 2013
Hess has enlisted Goldman Sachs to sell its approximately 1,361 gas stations and convenience stores.

According to the FoxBusiness.com report Hess wants to focus of gas exploration and production.

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Credit Suisse estimates the value of the brand at about $2.5 billion and estimates Hess could get as much as $3.4 billion. Stephen Simko, a Morningstar analyst, values the business at around $1.2 billion

Last month, Hess bought out the 56 percent stake in WilcoHess, a joint venture with A.T. Williams Oil. Hess presumably bought the stock so selling its retail locations would be easier.

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