CVR Energy Inc. said it was evaluating potential strategic alternatives, including a sale of the company, sending its shares up 3.7% after the bell, Reuters reported.
The company has engaged BofA Merrill Lynch as its financial advisor to assist it in the process.
CVR also said it has sold its 1.5 million-barrel oil storage terminal and related assets in Cushing, Oklahoma to Plains All American Pipeline LP for about $36 million.
Sugar Land, Texas-based CVR does not have a defined timeline for the exploration of strategic alternatives, the company said in a statement.
Carl Icahn took a controlling state in the company in 2012 and Icahn Associates Corp had a near 71% stake as of March 31, according to Refinitiv data.
Reporting by Debroop Roy in Bengaluru; Editing by Shailesh Kuber
