Mr Barrett declined to comment on the stake the duo will ultimately end up with in the business after the Blackstone unit commits equity. The move to take Applegreen private comes as the business grapples with Covid-19, Brexit and an accelerating shift by motorists towards electric vehicles. Applegreen raised €92 million through an initial public offering (IPO) of new stock in June 2015 at €3.80 each. The deal also saw Mr Etchingham and Mr Barrett raising €21.7 million by placing some of their shares on the market. If the takeover deal fails, Applegreen has agreed to reimburse up to €4.3 million of third-party costs and expenses incurred by the bidders.

Source: The Irish Times December 22, 2020 09:26 UTC