Bp leans into convenience and mobility across us, agrees to purchase leading travel center operator, travelcenters of america

Adds a network of around 280 travel centers, strategically-located on major highways across us; complementing bp's us convenience and mobility business. $1.3bn cash acquisition within bp's $16-18bn frame, with acquisition multiple of around six times based on last 12 months' travelcenters ebitda (4q21-3q22)i adds ebitda immediately, expected to grow to around $800m by 2025, underpinned by investment, integration value and synergies expected to deliver over 15% returns and be accretive to free cash flow per share from 2024.
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