New York, June 15, 2015 -- CST Brands, Inc. (Ba2/stable) today announced two dropdown (sale) transactions with CrossAmerica Partners L.P. ("CrossAmerica") totaling approximately $261.5 million. The aggregate consideration for the transactions includes $142 million in cash and approximately $119.5 million in newly issued common units representing limited partner interests in CrossAmerica. The transactions are expected to close in the third quarter of fiscal 2015. The dropdowns include 29 recently constructed CST stores for $135.5 million and an additional 12.5% of CST Fuel Supply L.P., CST's U.S wholesale supply business for $126 million. Proceeds from the transaction are expected to be used primarily for the expansion of CST's new store base. CrossAmerica curently owns 5% of limited partnership interest in CST Fuel Supply L.P. and will lease the acquired stores to CST. The transactions are long term credit positive but will have no immediate impact on CST's ratings.

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