RE: ESL now own27 Feb 2020 10:27
Eddie Stobart said on Wednesday: "This transaction provided GBP70 million of additional liquidity, putting the Eddie Stobart group on a stable footing and providing a platform from which to develop."
And, in a statement issued to the London Stock Exchange, Eddie Stobart confirmed DBAY has injected “approximately” £55 million worth of new financing, in the form of a high interest loan, into Greenwhitestar to keep the company on the road following an uncertain few months.
I don't believe that's the same as them paying £70m for equity. It's give me 51% and I'll give you a dirty loan @ 25%. If it goes tits up I would imagine they still have their loan and charges over assets.