CI Traders is sold for £260m

The deal is subject to shareholder and regulatory approval and is also conditional on the sale of a number of the properties to company chairman and Jersey resident Tom Scott. The deal is personally worth over £40 million to him and his son. The proposals issued on the London Stock Exchange this morning also indicate a widespread reorganisation of the group, although details have not been made clear. Mr Scott said this morning that the parties had been working ‘right through the night’ to reach the final agreement. He declined to comment further but said: ‘I’m a businessman and we’ll just have to wait and see what happens now.’