Eden Park


Dry today. Rain overnight.

Issued at Monday 24 November 2014 at 11:40 a.m.
suresmartPost-a-roseNedbankManx Telecom May 2013 2

New owners and corporate structure

Published online at 08/04/2011 19:58:35

The Isle of Man Steam Packet Company has new owners.

In a short statement, the company says all shares owned by Macquarie Bank and Australian pension funds have now been transferred to a consortium of banks led by Banco Espirito Santo.

The company says the change won't impact on services or prices, but will provide a long-term solution to its debts under a refinancing agreement.

The new owner is no stranger to the Irish Sea ferry firm as it has been working with the Steam Packet and its previous owners for six years.

Meanwhile, the corporate set up of the Steam Packet is also changing, with a simplified ownership structure.

The banking consortium will own a Manx-registered firm called Sealion Isle of Man, which will hold all of the Steam Packet's shares.

The need for a simplified structure was highlighted in a recent report by a Tynwald select committee.


    We would like to hear your views. If you have any comments or further information on this story, please email the Manx Radio newsroom at comments@manxradio.com

    Official Sponsors


    Related Stories

    Other Current Stories

    Planning statistics to be published

    More details about the planning system are set to be published in an attempt to make it more transparent, according to the Department of Infrastructure more...

  • Former favourites help celebrate milestone
  • Algae bloom at reservoir
  • Happy birthday Manx Radio!