Eddie Stobart could be a private company again as soon as April, according to a circular sent to shareholders of its parent group.

Stobart Group, which revealed plans for a partial realisation of its transport and distribution division last week, will hold a shareholder meeting on the 31 March in a bid to make its proposal reality.

If shareholders support the proposal to sell a controlling stake in newly created holding company, Eddie Stobart Logistics (ESL), to Douglasbay Capital, the deal worth £280.8m should complete on 1 April.

The divestment will see William Stobart become CEO of ESL, while Andrew Tinkler remains at the helm at Stobart Group, which will focus its efforts on its energy, air and rail interests.