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Business

Tank & Rast Considers IPO

Germany's leading operator and provider of motorway service areas, Tank & Rast, is examining the prospect of an initial public offering after registering success with its new strategy of higher quality services. The company increased both turnover and profits in 2003, it announced Wednesday in Bonn. Around 90 percent of Germany's autobahn service areas -- including 729 fuelling stations, rest stops and motels -- belong to Tank & Rast. The majority of shares in the company belong to Lufthansa, Allianz and Apax. Previously a state-owned firm, it was privatized in 1998.