Buyer sought for Red Funnel
Isle of Wight ferry operator Red Funnel is reportedly for sale for over £250 million.
The Sunday Times reports the company is being sold by Prudential’s infrastructure arm Infracapital nine years after acquiring Red Funnel for a reported £200 million.
Red Funnel chief executive Kevin George said: "It is normal for an infrastructure fund manager such as Infracapital to review its investments from time to time."
The company operates 30,000 sailings a year to and from the Isle of Wight on traditional ferries and Red Jet fast craft and carries 3.4 million passengers to and from Cowes.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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