Haslam family sells Berkshire Hathaway remaining 20% share of Pilot Travel Centers

• The Haslam family has sold its remaining 20% ownership interest in truck-stop giant Pilot Travel Centers to Berkshire Hathaway.
• The family of Cleveland Browns owner Jimmy Haslam III and Berkshire Hathaway last week settled a Delaware court lawsuit over an accounting method affecting the value of the family's stake.
• That settlement avoided a trial expected to feature testimony by Berkshire Hathaway executive Greg Abel, the designated successor to CEO Warren Buffett.
• Pilot Travel Centers is the largest operator of travel centers in North America, with more than 750 locations.

The Haslam family has sold its remaining 20% ownership interest in truck-stop giant Pilot Travel Centers to Berkshire Hathaway, both sides announced Tuesday.

The sale, whose terms were not disclosed, was announced more than a week after the Haslams and Berkshire Hathaway settled a billion-dollar Delaware Chancery Court lawsuit over an accounting method that the family complained would artificially depress the sale price of its stake in Pilot Travel Centers.

That settlement avoided what was scheduled to be a two-day trial beginning Jan. 8, with testimony from Berkshire Hathaway Vice Chairman Greg Abel, the designated successor to company CEO Warren Buffett.

"Berkshire Hathaway now owns 100% of Pilot Travel Centers," Berkshire said in a statement, which also said the sale by the Haslams' Pilot Corp. was "effective today."

Berkshire Hathaway in a regulatory filing last year listed the Haslams' noncontrolling interest in Pilot Travel Centers at a value of $3.37 billion

But the since-settled lawsuit raised concerns that could be cut by as much as $1.2 billion.

Read more CNBC politics coverage

• RFK Jr. presidential campaign questioned by FEC over payments