Truck maker Volvo is to make a capital gain of $US46.3m by selling its 28.7% stake in US truck stop chain Petro Stopping Centres, yielding a capital gain.

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According to Reuters, Volvo said the gain from the sale of the holding to TravelCentres of America and Hospitality Properties Trust would be included in the second-quarter operating earnings of the group’s truck business.


The firm was also reported to have said the stake in Petro, bought in 1999 to strengthen its network of parts and service points across North America, was now of “less strategic importance” following major investments in the group’s distribution network in recent years.

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