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Displaying items by tag: £124m

#FerryNews - Manx history was made as the islands parliament, the Tynwald voted to take the Isle of Man Steam Packet into public ownership (last) week.

Following a three-hour debate, reports IOMToday, Tynwald voted by 23 votes to one in the Keys and unanimously in LegCo to acquire the ferry company for £124.3m.

The only member to vote against was LibVan leader Kate Beecroft.

Under the deal, negotiated between Treasury and the Steam Packet’s bank and hedge fund owners, government will acquire a 100% shareholding of parent company MIOM Ltd using £124.3m of cash reserves.

To read more on the vote to takeover the Steam Packet, click here. 

Published in Ferry

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