Louis: Completion of Orient Queen Acquisition
8/2/2007 14:00
Louis plc announces that the acquisition of the cruise ship "ORIENT QUEEN" from the company Orient Queen Shipping Inc. As it has already been announced on August 2006, the Company signed agreement for chartering/leasing of "ORIENT QUEEN".
Louis had the right to buy the ship against the amount of $22 million during the first six months from the date of the signature of the initial agreement. The company exercised its right after obtaining from Marfin Popular Bank of the required financing.P;ayments paid during the leasing period have been deducted from the amount of $22. As a result Louis decreased considerably the cost of acquisition from $26 million to $22 million.
Louis had the right to buy the ship against the amount of $22 million during the first six months from the date of the signature of the initial agreement. The company exercised its right after obtaining from Marfin Popular Bank of the required financing.P;ayments paid during the leasing period have been deducted from the amount of $22. As a result Louis decreased considerably the cost of acquisition from $26 million to $22 million.
