StockMarketWire.com - Serco said it had been selected as preferred bidder to continue managing and operating the Northern Isles Ferry Services for passengers and freight between the Scottish mainland and the Orkney Islands and Shetland Islands.

The outcome of the tender was announced by the Minister for Energy, Connectivity and the Islands to The Scottish Parliament on Friday.

There was currently a mandatory standstill period following the appointment decision.

The contract was anticipated to start in the fourth quarter and had a total estimated revenue value to Serco of around £450m over an initial six-year term.

There was an option for Scottish Ministers to extend the contract for a further two years, valued at a further £160m.


At 1:05pm: [LON:SRP] Serco Group PLC share price was +3.15p at 151.55p



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