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Eddie Stobart to list its shares Eddie Stobart to list its shares
(about 2 hours later)
Eddie Stobart, the UK's best-known road haulage business, is motoring towards a listing on the London Stock Exchange.Eddie Stobart, the UK's best-known road haulage business, is motoring towards a listing on the London Stock Exchange.
The move follows after the firm announced plans to join with property and logistics group Westbury Property Fund in a complex reverse takeover.The move follows after the firm announced plans to join with property and logistics group Westbury Property Fund in a complex reverse takeover.
While Westbury is paying £138m to buy Eddie Stobart, Stobart's owners are buying Westbury's property portfolio for £142m.While Westbury is paying £138m to buy Eddie Stobart, Stobart's owners are buying Westbury's property portfolio for £142m.
The merged group will be called Stobart and take up Westbury's share listing.The merged group will be called Stobart and take up Westbury's share listing.
Fans can now invest and own a part of the business Eddie StobartFans can now invest and own a part of the business Eddie Stobart
It will combine Eddie Stobart's road transport, warehouse and rail freight operations, with Westbury's own rail freight business and port at Runcorn in Cheshire.It will combine Eddie Stobart's road transport, warehouse and rail freight operations, with Westbury's own rail freight business and port at Runcorn in Cheshire.
Eddie Stobart's current owners, William Stobart and Andrew Tinkler will run the merged company, taking up the roles of chief executive and chief operating officer respectively.Eddie Stobart's current owners, William Stobart and Andrew Tinkler will run the merged company, taking up the roles of chief executive and chief operating officer respectively.
Westbury's property portfolio is being bought for £142m by Mr Stobart and Mr Tinker through their separate business WADI Properties, which will operate independently from the merged Stobart group.Westbury's property portfolio is being bought for £142m by Mr Stobart and Mr Tinker through their separate business WADI Properties, which will operate independently from the merged Stobart group.
Cult followingCult following
Founded in 1970, Eddie Stobart has a cult following among members of the public.Founded in 1970, Eddie Stobart has a cult following among members of the public.
William Stobart and Andrew Tinkler will run the merged businessWilliam Stobart and Andrew Tinkler will run the merged business
Its distinctive lorries, each sporting a unique female name, have inspired a fan club, members of whom compete for the most sightings of Eddie Stobart trucks.Its distinctive lorries, each sporting a unique female name, have inspired a fan club, members of whom compete for the most sightings of Eddie Stobart trucks.
A range of toys and T-shirts are also available, and there has even been an animated TV series centred on a truck called Steady Eddie.A range of toys and T-shirts are also available, and there has even been an animated TV series centred on a truck called Steady Eddie.
"Eddie Stobart has a large and loyal fan base," the firm said in a statement."Eddie Stobart has a large and loyal fan base," the firm said in a statement.
"There are thousands of fans who collect memorabilia and attend events, and a large number who compete in the 'Spotters League Table'."There are thousands of fans who collect memorabilia and attend events, and a large number who compete in the 'Spotters League Table'.
"For many, the metamorphosis of Eddie Stobart to a publicly-listed company will mean that they can now invest and own a part of the business.""For many, the metamorphosis of Eddie Stobart to a publicly-listed company will mean that they can now invest and own a part of the business."
Based in Carlisle, Eddie Stobart operates from 27 sites across the UK.Based in Carlisle, Eddie Stobart operates from 27 sites across the UK.
Mr Tinkler and Mr Stobart will hold 28.5% of the new company following the merger.Mr Tinkler and Mr Stobart will hold 28.5% of the new company following the merger.
Westbury has also announced the acquisition of Widnes-based freight handling firm O'Connor for £23m, alongside the Eddie Stobart merger.Westbury has also announced the acquisition of Widnes-based freight handling firm O'Connor for £23m, alongside the Eddie Stobart merger.
The merger of Westbury and Eddie Stobart still requires the approval of Westbury shareholders, but this is expected to be successful.The merger of Westbury and Eddie Stobart still requires the approval of Westbury shareholders, but this is expected to be successful.

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