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Sale price for Red Funnel revealed

Isle of Wight ferry company Red Funnel was sold in the summer.

Isle of Wight ferry company Red Funnel was sold in the summer.

Haydn Taylor

[email protected]

Tuesday, September 12, 2017 - 15:59

CROSS-Solent ferry company Red Funnel was sold for £70 million above the asking price, according to a report by the Sunday Times.
The company was put up for sale with a listed sale price of £250 million earlier this year.
Following its sale to a group of UK and Canadian Pension funds in June, Red Funnel refused to say how much it was actually sold for.
But, according to the Sunday Times, it was finally sold for £320 million.
Among the consortium of buyers is West Midlands Pension Funds which manages the pensions for 302,000 council employees in the Birmingham and Wolverhampton area.

 


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