Warren Buffett's Berkshire Hathaway Snaps Up Remaining 20% Stake In Pilot Travel Centers From Haslam Family
Portfolio Pulse from Benzinga Neuro
Berkshire Hathaway Inc. (NYSE:BRK) has acquired the remaining 20% stake in Pilot Travel Centers from the Haslam family, making it the sole owner. The stake was valued at $3.37 billion. The terms of the sale were not disclosed. This follows a dispute where Pilot Corp. accused Berkshire of financial manipulation, which was resolved before trial.
January 17, 2024 | 5:46 am
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Berkshire Hathaway has completed the acquisition of Pilot Travel Centers, taking full ownership. The deal, valued at $3.37 billion, may reflect positively on Berkshire's investment diversification strategy.
The acquisition of the remaining stake in Pilot Travel Centers solidifies Berkshire Hathaway's position in the travel center industry and eliminates any previous ownership disputes. This could be seen as a positive move for Berkshire, as it may benefit from the full control of a profitable business. However, the lack of disclosed terms makes it difficult to assess the full financial impact, hence the importance is not at the maximum.
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