Travel Weekly - Phil Davies 

A deal to sell a 30% stake in Southend airport for £120 million to a US private equity firm has been confirmed by owner Esken.

The company, formally known as Stobart Group, was responding to speculation over a potential strategic partnership for the Essex airport.

“Under the proposed terms of the partnership, Carlyle would provide £120 million of funding net of Carlyle costs via a loan – convertible at Carlyle’s option into an equity stake of 29.99% in LSA – which would release £100 million of liquidity into the rest of the group.”

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