Vard Holdings Ltd (subsidiary of Fincantiery) announced that the contracts for the design and building of two ships for Viking Cruises had been confirmed. The total value of the contract is approx NOK 5 billion (US$611 million).
A Letter of Intent (“LOI”) was announced on April 4, with parties' common intention to enter into the final contract by the middle of the year. The contracts for 2 new vessels have now become effective.
The new contracts were entered into in the ordinary course of company's business and are not expected to have material impact on the per-share earnings or the net tangible assets per share for the current financial year.