The ferry operator Cross-Solent Wightlink could be sold by the owners of Basalt Infrastructure Partners for a figure in the region of £ 300 million, according to a report by The Times today (Sunday).
Wightlink was last sold in 2015 when Basalt bought the entire Macquarie European Infrastructure Fund company for around £ 230 million, but now Basalt is looking to collect and sell for around £ 300 million.
The company has recently invested over £ 45 million in improvement works, including the new Victoria of Wight ship, which is currently on its way to Solent.
Apparently there is a demand in boom of infrastructure assets around the world amid "ultra low interest rates" and weak golden yields. Last year, the competitor Red Funnel sold for £ 320 million.
Wightlink made a profit of £ 17.7 million last year thanks to its service operating between Ryde-Portsmouth, Fishbourne-Portsmouth and Yarmouth-Lymington.
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