Martin Stanley is CEO of Condor Ferries’ new owner, Macquarie European Infrastructure Funds. (0616811)

AN AGREEMENT has been reached to buy ferry operators the Condor Group for an undisclosed sum.

Wholesale investment fund Macquarie European Infrastructure Fund 2 announced its planned acquisition of the ferry operator yesterday, ending six months of uncertainty surrounding the Condor Group and whether its parent company, Admiral Holdings Ltd, was for sale.

In January it had been rumoured to be on the market for around £300m.

Macquarie European Infrastructure Funds chief executive officer Martin Stanley said there were no plans for changes in management, staff or services.

‘Macquarie invests on behalf of pension funds and other long-term investors who look for long-term, stable growth.

‘We plan to work with Condor’s management to continue delivering quality service.’