Arko up after Reuters reports company planning to sell convenience store operations

Arko.

17/09/2024 20:58

** Shares of convenience store operator Arko  ARKO.O  rise
as much as 13.7% to $7.29 in late afternoon trading; last up ~5%
    ** ARKO planning to divest its convenience store operations
in a deal that could be valued around $2 bln - Reuters reports,
citing sources
    ** ARKO working with investment bankers at Citigroup to sell
the package of about 1,500 stores that it currently operates,
report adds
    ** Potential buyers include other convenience store
operators, as well as private equity firms
    ** YTD, stock down 22% as of last close

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))