Stobart plans buy out of remaining 50% of Biomass JV from AW

摘要

Stobart group is to restructure its business in a move that will see it buy out the remaining 50% of the Biomass joint venture it has with fellow Cumbrian operator AW Jenkinson for £20m. AW Jenkinson owner Allan Jenkinson will join the Stobart Group board of directors, which recently saw William Stobart and James Warn leave, and is set to net £lm on completion of the deal. From 16 May (should the deal go ahead), the Stobart Group will comprise of five divisions: transport and distribution (the Eddie Stobart business headed by William Stobart); airports; infrastructure management; biomass and estates (which sees a property firm owned by Stobart and chief executive Andrew Tinkler - Moneypenny - folded into the group).