Owners respond to Southend speculation

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Aviation, energy and civil engineering specialist the Stobart Group has responded to recent speculation regarding a potential sale of 25% of its London Southend Airport.

The Group confirmed in a statement that it has been in detailed discussions for several months regarding an initial minority investment from a potential strategic airport development partner that has indicated a headline value for London Southend Airport of between £700m-£800m (US$825m-US$940m).

No acceptable terms have been agreed and discussions have since been put on hold while both parties navigate the current COVID-19 outbreak, the statement concluded.

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Tara has worked for UKi Media & Events since 2013, initially as a freelancer. She has been a journalist for over a decade and has worked for a range of publications, including Personnel Today, Management Today and The Grocer.

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