Brittany Ferries and Condor deal approved

Brittany Ferries bought shares in Condor Ferries in 2020

Jersey's competition regulator has approved a deal for Brittany Ferries to become the majority shareholder of Condor Ferries.

In August, Brittany Ferries announced its intention to buy 22% of the shares in Condor with an option to become the only shareholder in the future.

The French ferry firm already has a 29% stake in Condor, meaning this deal is set to take it to 51%.

The deal means that Brittany Ferries has assumed operational responsibility for Condor with immediate effect.

'Good news story'

Christophe Mathieu, chief executive officer of Brittany Ferries and Condor Ferries, said this was a "good news story" for the Channel Islands as it would result in a "better service" for passengers.

He said: "I want to emphasise that our commitment to Condor and the islands is absolute and enduring.

"This is not a short-term arrangement. Brittany Ferries' philosophy will be integrated into passenger and freight management as part of a long-term strategy."

Condor Ferries is one of three bidders to run services for the Channel Islands, with a decision set to be announced on a new operator in October.

Condor was originally acquired in November 2019 by a consortium comprising Brittany Ferries and the London-based Columbia Threadneedle European Sustainable Infrastructure Fund.

Columbia Threadneedle continues to retain a minority shareholding.