Brittany Ferries wants to buy Condor Ferries
THE process to purchase Condor Ferries is under way after Brittany Ferries’ president, Jean-Marc Roue, confirmed to Ouest France that a bid had been entered.
Condor’s owner, Macquarie Infrastructure and Real Assets (MIRA), earlier this year appointed Rothschild to explore options for the company, including a sale of the business.
Mr Roue added he did not think that Brittany Ferries would be alone in the process.
Danish ferry company DFDS announced plans in late July for a period of external expansion and already operate the cross-Channel service, Malo Seaways from Dover to Calais.
Brittany Ferries wants to secure the ‘vital ports’ of Saint-Malo, Poole and Portsmouth, all of which it and Condor Ferries uses.
And it does not want the arrival of a major competitor to its immediate environment – DFDS is the largest integrated shipping company in Northern Europe.
Brittany Ferries did not wish to comment on the potential bid.
Speaking after a meeting with Brittany’s president, Loïg Chesnais-Girard, Mr Roue said: ‘We should see more clearly by the end of 2020. For now, we cannot even estimate the amount of the future building. The shipping company is also expecting four new boats by 2023.
And it is still on the line to acquire Condor Ferries. Investments are also continuing on the coast of the region, which has contributed €1.2m. to the development of the port of Roscoff to organise the future customs and health controls (freight and passengers) inherent in Brexit.’
DFDS were contacted but said as they were a listed company, they could not comment on questions about acquisitions, ‘regardless of whether we are involved or not’.
It was suggested another potential bid could come from European infrastructure assets investor, Arcus.
However, Arcus have told the Guernsey Press that it is not participating in any process.
Industry observers said that Condor Ferries could be unlikely to attract the same investors that have targeted recent ferry sales due to being a more challenging business.
Condor has an ageing fleet with no new vessels since the 2010-built Liberation. The ferry operator was contacted but did not respond to the request for comment and its owner MIRA declined to comment.
