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.
Condor Ferries carries 200,000 passenger vehicles.
Condor Ferries carries 900,000 freight lane meters (for cargo and containers).
We are delighted to have agreed the first investment for ESIF. Its evergreen structure suits long-term, income-producing infrastructure assets such as Condor Ferries. The company is an attractive first investment due to its market fundamentals, stable financial position and management team with extensive industry experience, knowledge and strong relationships within the Channel Islands. The consortium combines the expertise of a leading global asset manager with the strong operational expertise of Brittany Ferries. We look forward to working with management, employees and the Channel Islands towards the long-term security and development of Condor’s ferry services. >
Brittany Ferries and Condor enjoy a long history in commercial operations and a closer cooperation between the two companies will create opportunities for sharing expertise and best practice. We believe this is a positive step and look forward to playing our part in supporting the economies and communities of the Channel Islands into the long term.
We are delighted with today’s announcement confirming an agreement has been reached by our current shareholder, Macquarie Infrastructure and Real Assets, to sell its 100% interest in Condor Ferries to a consortium of Columbia Threadneedle Investments (CTI), the majority shareholder, and Brittany Ferries (BF).
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