Irish petrol station operator Applegreen eyes 70 mln euro IPO

DUBLIN, May 28 (Reuters) - Irish petrol station operator Applegreen expects to raise about 70 million euros ($76.52 million) in an initial public offering (IPO), which it plans to use to accelerate growth in Ireland (Other OTC: IRLD - news) , Britain and potentially the United States.

Applegreen, a well known name in Ireland whose highway operations include retail concessions for Burger King and Costa Coffee, had earnings before interest, tax, depreciation and amortisation (EBITDA) of 22.8 million euros last year on sales of 937.3 million euros.

"The group is well positioned to benefit from recovering economic growth and increased disposable income in the Republic of Ireland and the UK, as well as favourable market trends as the oil majors exit the forecourt market," Applegreen Chief Executive Bob Etchingham said in a statement. ($1 = 0.9147 euros) (Reporting by Padraic Halpin; Editing by David Goodman)