CST Industries Holdings secures approval of $92.9 million asset sale

By Caroline Salls

Pittsburgh, Dec. 7 – CST Industries Holdings Inc. obtained court approval of the sale of substantially all of its assets to stalking horse bidder Solace CST, LLC, according to an order filed Dec. 6 with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the purchase price is comprised of a $65.4 million cash component and assumption of up to $27.5 million of allowed claims.

The auction, which was scheduled for Nov. 7, was cancelled.

CST, a Kansas City, Mo.-based industrial storage solutions company, filed for bankruptcy on June 9. The Chapter 11 case number is 17-11292.

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