Forecourt operator Applegreen says it has conditionally raised €175m through the placing of new shares. 

The company said the money will go towards its €360m acquisition of a majority stake in British motorway service group Welcome Break. 

The deal had been announced in early August.

Applegreen said today's placing had been significantly oversubscribed.

Welcome Break's portfolio consists of 24 motorway service areas, two trunk road service areas and 29 hotels across 35 locations in the UK.