Turkish media said the International Transporters Association of Turkey (UND) has applied to acquire the shares.

KKR has hired Goldman Sachs to conduct a sale, according to three sources cited by Bloomberg.

The New York fund paid EUR 910m (then $1.33bn, now $1.24bn) for a 97.6% stake in the ro-ro company before the crash in 2007. It is unclear what it might get back in the current climate.

The