Louis Cruise Lines planned $218 million purchase of the Norwegian Dream has fallen through, after the Cyprus-based cruise line did not take delivery of the ship from Star Cruises by the Sept. 29 deadline.
Star, which owns half of NCL Corp. (operator of the 2,156-passenger Dream), said in a filing with the Singapore and Hong Kong stock exchanges that the memorandum of agreement it signed with Louis terminated, “as a result of the buyers’ purported rescission of termination of the Dream MOA and their failure to accept delivery of the Norwegian Dream.”
In a statement, Louis said it chose not to accept delivery due to “technical issues relating to the vessel.”
Last April, Star agreed to sell Louis the Dream and the 1,460-passenger Norwegian Majesty for $218 million and $162 million, respectively. Louis has already taken delivery of the Majesty.
Star said it was seeking legal advice regarding its rights in the matter.