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Condor Ferries sold to consortium

News | Published:

CONDOR Ferries has been sold to a consortium including Brittany Ferries.

Commodore Clipper (26352672)

In a statement, Brittany Ferries said: 'Brittany Ferries, in consortium with the Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF), has reached an agreement to acquire 100 percent of Condor Ferries from Macquarie Infrastructure and Real Assets (MIRA).

'Contracts have been signed and the deal is expected to be executed following scrutiny by relevant regulatory authorities. Brittany Ferries will hold a minority stake.'

Paul Luxon, Condor Ferries’ CEO, said the operator was 'delighted with the agreement'.

He added: ‘The new shareholders wholeheartedly share our vision and strategy for maintaining and developing essential Channel Islands’ lifeline ferry services across the freight supply chain, Islander travel and tourism sectors.

'Having met with senior executives of CTI and BF on several occasions, the company welcomes such experience and expertise from the new shareholders, and having introduced them to key stakeholders including politicians and senior civil servants, discussions on fleet replacement and future investment will continue.

'Condor Ferries’ management and staff will continue to deliver the five year business plan that is underway and focus on providing efficient and effective sea connectivity to support the Channel Islands’ economies.'

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