Stobart Group Limited Receipt of merger control clearance (6851E)
05 Luglio 2019 - 3:33PM
UK Regulatory
TIDMSTOB
RNS Number : 6851E
Stobart Group Limited
05 July 2019
This announcement contains inside information
5 July 2019
Stobart Group Limited
("Stobart Group") or the "Company")
Receipt of merger control clearance
Stobart Group announces that it has today been notified that its
aviation joint venture, Connect Airways Limited ("Connect Airways")
has received merger control clearance from the European Commission
for its acquisition of Flybe Limited. Further details in connection
with Connect Airways are contained in Stobart Group's announcement
on 11 January 2019.
As announced previously, the share capital of Connect Airways is
owned 30% by Stobart Aviation Limited, a wholly owned subsidiary of
Stobart Group Limited, 30% by Virgin Travel Group Limited, the
holding company of Virgin Atlantic Airways Limited, and 40% by DLP
Holdings S.à.r.l., a Luxembourg company wholly-owned by funds
managed by Cyrus Capital Partners LP. Connect Airways has also
acquired Stobart Air's wet lease operations and aircraft leasing
business.
Commenting on the receipt of merger control clearance, Warwick
Brady, CEO of Stobart Group said:
"We are pleased to have received merger control clearance which
means that Connect Airways can now progress with an exciting future
based on a low-cost customer-centric regional connectivity
strategy."
The person responsible for arranging the release of this
announcement on behalf of Stobart Group is Louise Brace, Company
Secretary.
Enquiries:
Stobart Group Limited C/o Newgate Communications
Charlie Geller, Head of Group Communications
Newgate Communications Tel: 020 3757 6880
Robin Tozer Email: Stobart@newgatecomms.com
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END
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