Controlling shareholder Greenwhitestar UK, the holding company of the haulier, has Carlisle-based minority shareholder Stobart Group that it intends to seek admission to London’s junior market next month.
Greenwhitestar UK counts William Stobart, the former chief operating officer of the Stobart Group, among its directors.
Stobart Group realised 51 per cent of its investment in Eddie Stobart in March 2014 in order to give the business the opportunity to move to the next phase of its development with a new management team and investor base.
This allowed the group to focus its resources towards delivering on the potential of its energy, aviation, rail and infrastructure divisions. Stobart Group still holds a 49 per cent stake in Eddie Stobart.
A statement from Stobart Group said:
“The board is pleased that this strategy is bearing fruit across the group, that Eddie Stobart has performed strongly since the group’s partial realisation and that the group’s interest in Eddie Stobart continues to create considerable value for the group’s shareholders.
“The board has indicated its preference to retain a meaningful stake in the company following its IPO [initial public offering], reflecting the two groups’ ongoing shared interests and the company’s prospects.”
Carlisle-based infrastructure and support services business Stobart Group operates in the biomass energy, railway maintenance and aviation sectors as well as having investments in a property and logistics portfolio.
