KNOXVILLE, Tenn. (AP) — Warren Buffett’s Berkshire Hathaway is buying the remaining 20% of the Pilot truck stop business it does not already own from the Haslam family, the two announced on Tuesday.
Berkshire confirmed it now owns all of Pilot Travel Centers.
The sale follows the settlement of a lawsuit earlier this month that pitted Cleveland Browns owner Jimmy Haslam against Buffett’s Berkshire over the Pilot stake's value.
The 2017 agreements also gave Pilot Corp. an annual 60-day opportunity, beginning Jan. 1 this year, to sell its remaining 20% interest in PTC to Berkshire.
The sale price would be calculated using PTC’s earnings in the prior year.
Persons:
— Warren, Berkshire Hathaway, Haslam, Jimmy Haslam, Jim Haslam II
Organizations:
. Berkshire, Travel Centers, Cleveland Browns, Buffett’s Berkshire, Berkshire, PTC, Pilot Corp, Wilco
Locations:
KNOXVILLE, Tenn, Berkshire, Knoxville , Tennessee, U.S, Gate City , Virginia