Sard Aids Hess in Transformation

Mon., Mar. 4, 2013

By Greg Hazley

Sard Verbinnen & Co is advising Hess Corp. as the New York-based oil company goes public with plans to “transform” into an exploration and production company and leave its retail gas stations behind.

Hess said March 4 it will unload its retail operations, energy trading and marketing units in a plan announced alongside a dividend hike, $4B stock buyback program, and board shuffle.

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