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U.K.: OFT investigates ferry buyer after new information on deal emerges

By  |  October 31, 2012
U.K.: OFT investigates ferry buyer after new information on deal emerges

Groupe Eurotunnel SA’s acquisition of ferries from SeaFrance is now under watch by the Commerce Commission after the Office of Fair Trading learned a second entity had made an offer to buy the ferries. Groupe Eurotunnel picked up three ferries, among other assets, for $84 million after SeaFrance was liquidated last January. The OFT is now concerned Groupe Eurotunnel has earned an unfair advantage in the market, despite the French Commercial Court’s approval of the deal last June.

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