Condor Ferries has been sold to an investment consortium involving Brittany Ferries, ending months of speculation.
The French operators have acquired a 25% stake alongside new majority owner, Columbia Threadneedle Investments.
The current owners, Macquarie Infrastructure and Real Assets (MIRA) announced they have reached an agreement with the new owners to take on 100% of Condor Ferries.
Contracts have been signed and the deal is expected to be finalised following scrutiny from regulatory bodies.
Condor Ferries carries 1 million passengers between Guernsey, Jersey, the UK and St Malo.