A consortium led by Blackstone Infrastructure Partners and B&J Holdings Limited struck a takeover deal with Applegreen plc (LON: APGN) on Tuesday. As per sources, the deal values the Dublin-headquartered gas station operator at roughly £652.73 million.
Applegreen shares were reported about 1% up in premarket trading on Tuesday and jumped another 3% on market open. Including the price action, the Irish company is now a little under 10% up in the stock market. If you are interested in investing in the stock market online, you will need a reliable stockbroker – here’s a list of the top few to make selection easier for you.
Chairman Daniel Kitchen’s comments on Tuesday
Applegreen also confirmed on Tuesday that it will go private once the transaction is completed. Chairman Daniel Kitchen of Applegreen commented on the news and said:
“The business has significant scope to further expand its footprint, which we believe will be best achieved in the private arena where the group can benefit from the experience and capital of Blackstone as its partner, whilst maintaining the management and wider team which have driven the business forward to date.”
In separate news from the United Kingdom, retailer Frasers Group withdrew its outlook for fiscal 2021 as the government imposed new restrictions to combat the rising cases of the novel flu-like virus.
As per the agreement, Applegreen shareholders will get £5.23 per share in cash, that translates to a 3.6% premium on the price at which the Irish company closed the regular session on Monday.
Applegreen was a brainchild of Joseph Barret and Robert Etchingham who founded the company in 1992. Barret and Etchingham also own B&J Holdings via which they
