Volvo sells stake in U.S. truck stop chain

Newswire

STOCKHOLM, May 31 (Reuters) - World number two truck maker Volvo is selling its 28.7 percent stake in U.S. truck stop chain Petro Stopping Centers, yielding a capital gain of $46.3 million. Volvo said in a statement released late on Wednesday the gain from the sale of the holding to TravelCenters of America and Hospitality Properties Trust would be included in the second-quarter operating earnings of the group's truck business. The firm said the stake in Petro, bought in 1999 to ...

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