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New owner for island titles

The Jersey Evening Post and Guernsey Press and Star have a new owner, after a bid by newspaper publisher the Claverley Company was declared unconditional.

The family-owned Claverley Company, which publishes the Shropshire Star and the Express & Star in Wolverhampton, launched a £50m takeover bid for the Channel Islands publisher the Guiton Group in October.

Claverley already had a 35 per cent share of Guiton and the deal, which valued the group at £75.9m, will see it take full control.

Nearly 95 per cent of Guiton shareholders have so far accepted the bid, and Claverley has applied to cancel the trading of Guiton shares on the London Stock Exchange, to take effect from start of business on December 24.

The deal marks the end of 113 years of control of the Guiton Group by descendants of its founder, Walter Guiton.

Founding family member Frank Walker will continue as non-executive chairman.

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