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BRIEF-Berkshire Hathaway to acquire 38.6 pct equity stake in Pilot Flying J​
October 3, 2017 / 12:20 PM / 2 months ago

BRIEF-Berkshire Hathaway to acquire 38.6 pct equity stake in Pilot Flying J​

Oct 3 (Reuters) - Berkshire Hathaway Inc:

* Berkshire Hathaway invests in Pilot Flying J

* Berkshire will acquire a 38.6 percent equity stake in Pilot Flying J​

* Pilot Flying J will continue to be headquartered in Knoxville, TN

* Haslam family will continue to own a majority of Pilot Flying J and Jimmy Haslam will remain as chief executive officer

* Made a “significant” minority investment in Pilot Travel Centers LLC

* Haslam family to continue to hold majority interest with 50.1 percent ownership in Pilot Flying J until 2023​

* FJ Management, owned by Maggelet family, will retain 11.3 percent ownership in Pilot Flying J until 2023

* In 2023, company will become majority shareholder by acquiring additional 41.4 percent equity stake in Pilot Flying J​ Source text for Eikon: Further company coverage:

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