Brittany Ferries Consortium Buys Condor
Condor Ferries, an operator of passenger and freight ferry services between UK and France, has been sold to a consortium including the French shipping company Brittany Ferries.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.Condor Ferries is an operator of lifeline freight and passenger ferry services.
Irish Continental Group Half Year Results
In a comment John B. McGuckian Chairman stated, ‘‘This was a positive half years trading with increases in revenue and operating profit driven mainly by higher freight carryings and lower fuel costs, partially offset by weaker passenger markets. In the prior year the group disposed of its subsidiary Feederlink and the comparatives set out in the Interim Management Report have been restated to exclude trading from discontinued operations. The Board of Irish Continental Group plc (ICG) reports that, in the seasonally less profitable first half of the year, the group recorded revenue of €120.9 million compared with €117.0 million in the same period in 2012, an increase of 3.3%.
TransEuropa Ferries Goes Into Administration
Belgian firm TransEuropa has suspended all sailings between Ramsgate (UK) and Ostend (Belgium) amid fears over its future. TransEuropa had run passenger and freight ferry services between Ramsgate and Ostend for the last 15 years, and was the only passenger service out of the Port of Ramsgate, reports BBC News England. Owners of the Kent port, Thanet District Council, has had confirmation of the company's difficulties and cessation of its ferry services, it being understood that the company owes them money. Source: BBC News England
