Corporate News Stories
Eddie Stobart enters London Stock Exchange
16/08/2007Lawyers from Brabners Chaffe Street have helped complete a deal to take haulage giants Eddie Stobart onto the London Stock Exchange.
The reverse flotation saw the Carlisle-based group taken over in a £138 milion deal by the Westbury Property Fund, a property and logistics business.
The enlarged company will be renamed Stobart Group and unites Westbury`s port development site in Runcorn, its rail freight business and Widnes rail terminal with Stobart`s 900 trucks and storage business.
Corporate partner John Boydell led a team of lawyers from Brabners Chaffe Street`s Preston office on the deal. They advised the shareholders of logistics group, O`Connors, on its £27 million sale to Eddie Stobart.
Mr Boydell said:īThe transaction was extremely complex as it was one of a series of three transactions, the others being a £142m sale and acquisition of a property portfolio and the merger of Eddie Stobart with listed property company, Westbury Property Fundī.
The O`Connor Group is forecasting no changes either in personnel or operations as a result of the deal. Steve O`Connor will remain Managing Director of O`Connor Group after the transaction, which is subject to shareholder approval.
The Group will continue its ongoing investment in the infrastructure at the Widnes site. O`Connors will retain its name and brand and there will beopportunities for its management team to contribute to the development of Westbury`s other North West businesses, including AHC and Port of Weston.
For further information contact John Boydell at Brabners Chaffe Street on 01772 823 921
Back to the Corporate news headlines
© 2010 Brabners Chaffe Street. Brabners Chaffe Street is a Limited Liability Partnership