As reported earlier this month, the board of the largest private trading group in the Channel Islands has accepted a £260 million bid from a private equity consortium.
Now it is for shareholders to decide whether or not they want to back that acquisition, paying out £1 per share.
CI Traders includes some of the largest supermarkets in the islands, including Checkers, the Marks & Spencer franchise in Jersey, Benest’s and Safeway, as well as pubs, hotels in Guernsey, and a large distribution and wholesale operation.
There are nearly 3,000 shareholders in all, mainly Channel Island residents with relatively small stakeholds.
The chairman of CI Traders, Tom Scott, has the largest stakehold of over 16%.
All of the board of directors are backing the proposed acquisition and their combined shareholding amounts to 37% of the total.
