Esken considers deal to give up control of Southend Airport

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Esken, together with its advisers, is urgently reviewing and assessing the terms and potential financial impact of the recapitalisation proposal on the company and its wider stakeholders and will then decide whether to accept the terms of the recapitalisation proposal Esken On Monday Esken said that it had “negotiated a recapitalisation proposal with Carlyle”, which would serve “as a solution to the dispute.” Esken now has until March 4 to decide whether it wants to accept the solution. “Esken, together with its advisers, is urgently reviewing and assessing the terms and potential financial impact of the recapitalisation proposal on the company and its wider stakeholders and will then decide whether to accept the terms of the recapitalisation proposal,” the business said. The deal would mean that Esken’s stake in London Southend Airport Company Limited would be “significantly reduced to a minority interest”. “The recapitalisation proposal, if agreed to by the company or imposed on it by the courts, could have a material adverse impact on the group.” Shares had fallen by about 43% around midday on Monday.