Stobart in talks to sell minority stake in London Southend Airport

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Aviation and engineering group Stobart said it had entered into detailed discussions to possibly sell a minority stake in London Southend Airport.

The company said it had noted press speculation regarding a potential sale of 25% of the asset.

Stobart said it had been in detailed discussions for several months with a 'potential strategic airport development partner'.

The party had indicated a headline value for London Southend Airport of between £700-800m,' it added.

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