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MarketScreener Homepage  >  Equities  >  Nasdaq  >  TravelCenters of America LLC    TA

TRAVELCENTERS OF AMERICA LLC

(TA)
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TravelCenters of America LLC : Announces the Completion of the Sale of its Standalone Convenience Stores Business

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12/07/2018 | 06:47am EDT

TravelCenters of America LLC today announced the completion of its previously announced sale of 225 standalone convenience stores, one standalone restaurant, five parcels of land and certain related assets, or the convenience stores business, for an aggregate sale price of $330.8 million. The estimated net proceeds of $321.4 million after transaction related costs are expected to be used to reduce the companys future rent and/or interest payment obligations. Andrew J. Rebholz, TA`s Chief Executive Officer, made the following statement regarding the disposition:

This strategic divestment is a significant step in support of TAs strategy to be a more focused leader in the travel center industry. The sale of the convenience stores business will allow us to address the companys leverage, focus more on our core travel centers business and thoughtfully pursue our growth programs.

The aggregate sale price amount is subject to a customary post-closing adjustment based on the final working capital balance, but TA currently expects that any such adjustment will not be material.

A Form 8-K will be filed in conjunction with the sale that includes pro forma financial statements.

(c) 2018 Qatar Tribune. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 6 272 M
EBIT 2019 22,0 M
Net income 2019 -3,69 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 352,00
Capi. / Sales 2019 0,02x
Capi. / Sales 2020 0,02x
Capitalization 142 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 9,00 $
Spread / Average Target 156%
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Managers
NameTitle
Andrew J. Rebholz Chief Executive Officer, MD & Director
Barry A. Richards President & Chief Operating Officer
William Earnest Myers Chief Financial Officer, Treasurer & Executive VP
Sean Kubovcik Chief Information Officer & Senior Vice President
Barbara D. Gilmore Independent Director
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