SeaStreak owner
re-starts the sale process for the ferry company
New York and London, 15January 2008 – Sea Containers, the parent company of SeaStreak, the profitable fast ferry passenger line that crosses daily from Atlantic Highlands and Highlands on the central New Jersey coast to Manhattan, is re-starting the marketing process to sell the four ships and the company together.
In October last year SeaStreak responded to press speculation about a sale of the ships alone to the National Infrastructure Development Company of the Government of Trinidad & Tobago by referring to it as premature and ‘wide of the mark’. These negotiations have not resulted in a sale.
SeaStreak, which ferries 4,000 commuters during each working day, is owned by Sea Containers Ltd, the Bermuda registered and New York quoted company that has been in Chapter 11 since October 2006. This has led to Sea Containers needing to dispose of its non-core businesses. SeaStreak, which profitably operates the service using four modern and fast catamarans, is one of the subsidiaries which have been put up for sale.
David Stafford, SeaStreak’s General Manager, said: “Everyone at Sea Containers and SeaStreak appreciates how important our Manhattan ferry service is to the local communities of Atlantic Highlands and Highlands. Sea Containers is keen to sell the route together with the ships and we already have firm indications of interest in buying SeaStreak. ”
ENDS
For further details:
Adrian Flook M: Communications + 44 (0)20 7153 1588
AI
