Irish Continental Statement Re Completion Of Vessel Sale
April 11 2019 - 2:00AM
UK Regulatory
TIDMICGC
COMPANY ANNOUNCEMENT
Sale of M. V. Oscar Wilde
Irish Continental Group plc ("ICG") announces that it has entered into a
bareboat hire purchase agreement for the sale of the cruise ferry "Oscar
Wilde" to MSC Mediterranean Shipping Company SA.
The total gross consideration for the sale is EUR28.9 million, payable
in instalments over 6 years, up to 2025. Delivery to the buyer is
expected to take place during April 2019.
The "Oscar Wilde", 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 (EUR7.7 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.
END
11 April 2019
Enquiries:
Eamonn Rothwell, CEO Tel +353 1 607 5628
David Ledwidge, CFO Tel +353 1 607 5628
Q4 Public Relations Tel +353 1 475 1444
(END) Dow Jones Newswires
April 11, 2019 02:00 ET (06:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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