Confusion over Packet's debt levels says CM
Government will not inherit any of the Steam Packet's corporate debt, should it complete a planned takeover of the company.
It was announced last week that ministers were in support of purchasing the ferry line for £124 million - eight years before the end of the current Linkspan user agreement.
The value was determined based on estimations of the company's assets and profit projections.
But Howard Quayle says there has been some confusion about the Steam Packet's existing levels of debt.
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