The Isle of Man government has said it will take over ro-pax operator Isle of Man Steam Packet Company (IoMSPC) for £124m ($167m).
If approved by the island's parliament later this month, the government would acquire 100% of MIOM, IoMSPC's parent.
The BBC cited the island's chief minister Howard Quayle as saying: "Acquiring the national asset is a once-in-a-generation opportunity."
