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Eddie Stobart confirms expression of interest from Andrew Tinkler's TVFC

By Michele Maatouk

Date: Wednesday 18 Sep 2019

Eddie Stobart confirms expression of interest from Andrew Tinkler's TVFC

(Sharecast News) - Eddie Stobart Logistics confirmed on Wednesday that it has received a "highly preliminary" expression of interest from TVFC, a company controlled by former Stobart Group boss Andrew Tinkler, that could include an offer for the struggling logistics group.
The company said there can be no certainty either that an offer will be made nor as to the terms of any such offer, and a further announcement will be made when appropriate.

The statement followed a Sky News report late on Tuesday suggesting that Andrew Tinkler, who was ousted from his role as chief executive of Stobart Group, had notified advisers to Eddie Stobart that he was interested in participating in a refinancing of the company, which could involve making an offer.

If successful, the move would see Tinkler return to a company that he ran for a decade until 2014, when it was part of the wider Stobart Group.

Earlier this month, Eddie Stobart said it had received a preliminary expression of interest from DBAY Advisors Limited, which already owns a 10.1% stake in the company.

Eddie Stobart warned earlier this week that it continues to expect full-year profits to be "significantly below" the board's expectations after a tough first half. It also said it was considering raising new equity.

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