UK-based logistics giant Stobart Group has announced it will now acquire total control of Propius Holdings Limited, the lessor which owns eight ATR72-600s that are operated by Stobart Air (Dublin International).

The firm said in a London Stock Exchange disclosure that having boosted its stake in Propius to 67% earlier this year, it was now pursuing the remaining shareholding in the firm from Aer Lingus (EI, Dublin International) for a cash consideration of USD14.7 million.

"The parties are currently negotiating contracts and the transaction is expected to complete during 2016," it said.