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The inquiry comes from a consortium including B&J Holdings – a 41% shareholder in Applegreen that represents the holdings of Applegreen’s founders Robert Etchingham and Joseph Barrett – and private equity firm Blackstone Infrastructure Partners.
Discussions are said to be ongoing and Applegreen says that there was no certainty that a firm offer will be made by the consortium.
The company said: “The independent board believes the possible cash offer, if effected, would represent a compelling opportunity for shareholders in Applegreen to realise their investment at an attractive premium to the prevailing share price.”
Applegreen currently operates 204 sites across the Republic of Ireland and 164 in the UK. It is also the number one motorway service area operator in Ireland and the number two in the UK through its majority-owned subsidiary Welcome Break.
