Cross-Solent ferry operator Wightlink could by sold by owners Basalt Infrastructure Partners for a figure in the region of £300million, according to a report by The Times today (Sunday).
Wightlink was last sold in 2015 when Basalt bought the entire company from Macquarie European Infrastructure Fund for around £230million, but now Basalt is looking to cash in and sell for around £300million.
The company has recently invested over £45million in improvement works including the new ship Victoria of Wight, which is currrntly en-route to the Solent.
There is apparently a booming demand for infrastructure assets worldwide amid ‘ultra-low interest rates and weak gilt yields’. It was only last year that competitor Red Funnel was sold for £320million.
Wightlink made £17.7million profit last year thanks to its service which operates between Ryde-Portsmouth, Fishbourne-Portsmouth and Yarmouth-Lymington.