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ICG sells ferry 'Bilbao' for €37.7m

By BFN News | 08:37 AM | Friday 03 December, 2010

Irish Continental Group has agreed the sale of the ferry 'Bilbao' to Cyprus-based St Peter Line for €37.7m which is payable in instalments over 5.75 years. The transaction is in the form of a bareboat/hire purchase agreement with the vessel chartered to St Peter Line which takes over the title on the final hire payment in September 2016. Delivery is expected to take place this month. ICG has owned the vessel since November 1993, when the ship was purchased from Viking Line. Story provided by

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