MSC to invest 29 million euro in a 1987-built ferry
Irish Continental Group sold the Oscar Wilde through a bare boat charter back agreement
ICG Irish Continental Group entered into a bareboat hire purchase agreement for the sale of the cruise ferry Oscar Wilde to MSC Mediterranean Shipping Company SA for a total gross consideration of 28.9 million euro, payable in instalments over 6 years, up to 2025; delivery is expected during this month.
The vessel, built in 1987, was acquired by ICG in 2007 and was operated by its subsidiary Irish Ferries on the Ireland-France route.
The proceeds less the net book value of the Oscar Wilde (7.7 million euro) and related disposal costs will result in a profit on disposal to be reported as part of 2019 financial results of ICG.