Stena Line has sold the Harwich International port in Essex for £72m.
The buyer is a group of institutions led by HSBC Private Equity. Harwich will continue to be managed by Michael Connellan, but as an independent company. HSBC said the business would be “eminently flotable” in the medium term but hoped to use Harwich for acquisitions before then. It envisages that the port will double in size.
Stena will book a SKr150m (£11.5m) capital gain from the sale.
- The Times 06/08/97 page 24 (Business Roundup)
- Financial Times 06/08/97 page 22 (News Digest)
- The Independent 06/08/97 page 17
- The Daily Telegraph 06/08/97 page 25
