March 13 (Reuters) - Pershing Square (NYSE:SQ) Capital Management Lp IPO-PERS.L
* Pershing Square Capital Management, L.P. announces sale of its investment in Valeant Pharmaceuticals (NYSE:VRX) 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: ID:nBw7KVCN1a Further company coverage: IPO-PERS.L