TravelCenters Approves Converting to a Corporation
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TravelCenters of America’s board unanimously approved a plan to convert from a Delaware limited liability company to a Maryland corporation to expand shareholder opportunities.
This conversion for the Westlake, Ohio-based company requires regulatory approvals, and TA expects to complete the conversion before the end of the year. Also at its recent annual meeting, Lisa Harris Jones was re-elected as an independent director.
“The TA board of directors believes this conversion will make it easier for a broader group of investors to own TA stock, including by enabling possible index eligibility for TA,” CEO Andy Rebholz said in a statement.
TA’s business includes travel centers located in 43 states and in Canada, and stand-alone restaurants in 14 states. TA’s travel centers operate under the TravelCenters of America, TA, TA Express, Petro Stopping Centers and Petro brand names, and offer diesel and gasoline fueling, restaurants, truck repair services and convenience stores. — Transport Topics
