TravelCenters asked by investor to sell and lease back stores: Bloomberg

Investor Russell Glass has asked TravelCenters of America to sell and lease back stores and to separate its truck-repair business, Bloomberg reported, citing a letter from investment fund Glass's RDG Capital Fund Management.

TravelCenters' fuel stations and convenience store chain could be worth $400 million while its truck-repair business could be valued at $300 million, Bloomberg said.

The letter said the investor complained the company was deeply undervalued.

Bloomberg could not obtain at the time of the report in late February any comment from TravelCenters neither did the news agency know the actual stake of the investor seeking the changes.

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