Irish Ferries’ Oscar Wilde sold to parent company of MSC Cruises

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  • 1,440-passenger vessel entered service on Rosslare-Cherbourg route in November 2007.
  • Oscar Wilde, which replaced the Normandy on the route, was previously owned by Norway’s Color Line and plied Baltic Sea routes.

Irish Continental Group is to sell its Oscar Wilde ferry to a MSC cruises’ parent company.

ICG, which owns Irish Ferries, said it had entered into a bareboat hire purchase agreement for the sale to MSC Mediterranean Shipping Company.0

The deal is worth €28.9m, payable in instalments over six 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. The proceeds less the net book value of the Oscar Wilde (€7.7m) and related disposal costs will result in a profit on disposal which will be reported as part of the 2019 financial results of ICG.

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The sale was announced in a filing to the Irish Stock Exchange.

 

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