It was previously announced by Commodore Shipping that the company was up for sale, but no further information on the purchaser was given.

Now comes the news that Commodore has been sold to its management team with backing from ABN Ambro Bank. It is suggested the deal involves around £150 million.

A spokesman for Commodore said it was the best arrangement that could have been wished for as it guaranteed continuity.

For 50 years the Commodore Group has been serving the Channel Islands. Assets of the company now include four ships as well as numerous vehicles. During its history, Commodore has developed into a freight-carrying service, as well as passenger carrying with the fast Wavepiecer craft.

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