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Applegreen duo say private ownership best for massive spend plans Founding directors have joined forces with unit of US investor Blackstone in €718m bid Tue, Dec 22, 2020, 09:24 Updated: Tue, Dec 22, 2020, 19:10   Applegreen’s two founding directors and main shareholders, who have joined forces with a part of US investment giant Blackstone to bid €718 million for the fuel forecourt retailer, say the business is now better off in private hands as it prepares for large investments in electric car charging facilities and US highway service areas. The company’s independent directors, led by chairman Danny Kitchen, have also decided to unanimously recommend the €5.75-per-share takeover bid, highlighting the constraints on Applegreen borrowing heavily as a listed company, particularly amid Covid-19, to take advantage of “significant” growth opportunities, they said in a statement on Tuesday.

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