Reuters also hears Terra to launch for sale Tank & Rast

Tank & Rast, which holds over 90% of German highways rest concessions, will soon be launched for sale in a potential US $2.4 billion transaction, Reuters news agency reported on 13 January citing two unnamed sources and echoing a similar report.

A private equity investment firm has asked Deutsche Bank and JP Morgan to explore either a sale or initial public offering for Tank & Rast by its owner Terra, the sources told the news agency.

Tank & Rast chain includes 350 filling stations, 390 service areas and 50 hotels. It was not possible for PetrolPlaza to confirm the information independently. Terra has already told “no comment “ to a PetrolPlaza attempt to independently confirm the same information in mid-December, following a similar report by Bloomberg News.

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