March 6 (Reuters) - Stobart Group Ltd
* Proposed partial disposal
* Announces a partial realisation of its transport and distribution division
* Going forward the group will focus on exploiting the potential of its
infrastructure and support services divisions
* Proposes to realise 51 percent of eddie Stobart logistics
* Transaction values the business being sold at approximately 280.8 million stg
comprising 195.6 million stg in cash, 44.1 million stg in shares
* Transaction value also comprises approximately 41.1 million stg in debt and
debt-like items assumed by the purchaser
* Cash proceeds provide funding of up to 55 million stg for the group's proposed
investment in Stobart green energy
* Cash proceeds to be used to repay the group's 100 million stg loan from m&g,
leaving the group with minimal net debt
* Cash proceeds used to fund a share buyback of up to 35 million stg of the
company's ordinary shares over the coming twelve months
* William Stobart will leave the group board and lead eddie Stobart logistics
as CEO
* Well-positioned to maintain its dividend policy
* Up to 10.0 million stg of the cash consideration may be deferred via the issue of a loan note
* Source text for Eikon:
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