DBAY Advisors has struck a deal to take over Eddie Stobart and inject £55m to provide the struggling logistics company with the liquidity it needs before Christmas.
The cash injection by the private equity firm – through its DouglasBay Capital III fund – will be done with a payment-in-kind loan instrument. News of DBAY’s proposal, which will mean the fund acquires a 51% stake in the business, was first announced earlier this week. On November 15, the company said it has now agreed to the deal.
