The deal could be closed for a total consideration of €3 billion (US$3.3 billion).
The five teams in the race are the following:
Tank and Rast chain currently operates about 390 service stations and 350 gas stations (including approximately 50 hotels) on Germany's Autobahn highway network, which represent about a 90% of the market.
The company, which was privatized in 1998, generates more than €3 billion (US$3.3 billion) in revenue.
Terra Firma bought Tank & Rast in 2004 for €1.1 billion from Lufthansa, Apax and Allianz. Later in 2007, the firm sold half of its interest to RREEF Infrastructure Management Ltd.