3rd Dec 2019 17:20
(Alliance News) - Link Fund Solutions Ltd has sold further shares in troubled Eddie Stobart Logistics PLC, the latter said Tuesday.
On Monday, Eddie Stobart said the investor on Thursday last week slashed its stake to 5.7% from just under 20%. On Friday, this was further reduced to below 5%.
This comes as DBAY Advisors Ltd and TVFB, the latter of which is controlled by former Chief Executive Andrew Tinkler, vie for control of the company.
DBAY has put forward a GBP55 million lifeline in return for a 51% stake in the entity controlling Eddie Stobart's assets, but Tinkler has put forward a plan to raise up to GBP80 million to reduce the firm's debt.
Shares in Eddie Stobart are currently suspended from trading in London, having been so since August, amid financial problems.
By George Collard; [email protected]
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