Applegreen has completed the transaction which makes it the second largest motorway service area operator in the UK. In a Stock Exchange announcement on November 1, it confirmed it had completed the deal which gives it a 50.01% controlling stake in Welcome Break.
The current Welcome Break CEO, Robbie Bell, will leave the business on December 31, and John Diviney, MD of Applegreen’s UK operations, will take over.
The Stock Exchange announcement also revealed that Applegreen had entered into an agreement with Arjun Infrastructure Partners (AIP), which owns the other 49.99% of Welcome Break, to transfer "UK early stage pipeline assets" to Welcome Break.
No comments yet