William Smith's managing director, Robert Sinclair, described the move as a positive development.

BBC: Dundee-based shoe retail chain sells five outlets

After hearing of the sale, Bristol Airport chief executive Robert Sinclair was sceptical that government involvement would be "arm's length".

BBC: Cardiff Airport is sold to the Welsh government for ?52m

"There is a lot of gasoline infrastructure in New Jersey, " says AAA spokesman Robert Sinclair, who also notes the presence of many refineries in the South.

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