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ICG Sells Oscar Wilde Ferry to MSC

Oscar Wilde. Photo: Irish Ferries

Shailaja A. Lakshmi

Dublin-based maritime transportation group Irish Continental Group (ICG) has entered into a bareboat hire purchase agreement for the sale of the cruise ferry "Oscar Wilde" to MSC Mediterranean Shipping Company.

The total consideration for the sale is EUR28.9m, payable in instalments over six years, up to 2025.

Delivery to the buyer is expected to take place this month, said a company release.

Built in 1987, the Oscar Wilde was bought by ICG in 2007 and operated on Irish Ferries' route to France. ICG operates Irish Ferries, which runs sailings from Ireland to Britain and France.

The proceeds less the net book value of the Oscar Wilde (€7.7 million) and related disposal costs will result in a profit on disposal which will be reported as part of the 2019 financial results of ICG, said the company.

Apr 11, 2019

 

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