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BRIEF-Pershing Square Capital sells investment in Valeant Pharmaceuticals

March 13 Pershing Square Capital Management Lp (IPO-PERS.L)

* Pershing Square Capital Management, L.P. announces sale of its investment in Valeant Pharmaceuticals International, Inc.

* Pershing Square-CEO Bill Ackman, Vice Chairman Steve Fraidin to remain on Valeant board until upcoming annual meeting, will not stand for re-election

* Pershing Square Capital Management says at its current market value, valeant position represented 1.5 percent to 3 percent of various Pershing Square funds Source text for Eikon: Further company coverage:

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