BP to buy TravelCenters of America for $1.3 billion (updated)

RMR group

16/02/2023 13:31

(Adds details on the deal)
       Feb 16 (Reuters) - TravelCenters of America Inc  TA.O 
said on Thursday it would be acquired by BP Plc  BP.L  for
about $1.3 billion in cash, as the British energy giant looks to
expand its travel convenience and fuel supply footprint in the
United States.
    BP has offered $86 per TravelCenters share held, which
represents a 74% premium to the stock's last close on Wednesday.
    Convenience is one of BP's five strategic transition growth
engines. By 2030, the London-listed aims for around half its
annual investment to go into these transition growth engines.   
 (Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))