23 03 2016

JCP Investment Management Reaches Agreement with CST Brands on Board Changes and Strategic Alternatives

Olshan has advised JCP Investment Management


JCP is an investment firm focused on investing across the capital structure primarily in North America.  We have a track record of significant value enhancement at companies in which we have become involved, and at which we have gained representation on the Board. Under the agreement, CST Brands agreed to appoint Tad Dickson, the former Chairman of the Board of The Pantry, Inc., to its Board of Directors and initiate a strategic alternatives review process to enhance stockholder value. The Board will create a new strategic alternatives committee on which Mr. Dickson will serve. CST Brands also entered into an agreement with Engine Capital pursuant to which an additional independent director was added to its Board of Directors. Steve Wolosky (Picture), Aneliya Crawford and Ryan Nebel represent JCP Investment Management in connection with its investment in CST Brands.   Involved fees earner: Steve Wolosky - Olshan Frome Wolosky LLP; Aneliya Crawford - Olshan Frome Wolosky LLP; Ryan Nebel - Olshan Frome Wolosky LLP;

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