The Quicksilver Group has entered into an agreement with Australian Cruise Group for the purchase of the highly regarded Ocean Spirit Cruises based in Cairns. Completion of the sale is expected to occur in late July 2013, subject to customary conditions, including finalising due diligence and regulatory approvals.
The proposed sale includes the 32 metre sailing catamaran Ocean Spirit that operates daily cruises to Michaelmas Cay.
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�The purchase of Ocean Spirit Cruises is an exciting opportunity for the Quicksilver Group. Ocean Spirit is a strong brand that will provide great synergies with our Great Adventures operation in Cairns,� said Shin Watari, Chairman of the Quicksilver Group.
I see the acquisition of Ocean Spirit and the Michaelmas Cay permits as a wonderful opportunity to reinforce Quicksilver�s and my commitment to highlighting the wonders of the Great Barrier Reef and to the long term future of the Cairns and Port Douglas tourism industry�
Executive Chairman of Australian Cruise Group Sudhir Warrier said, "Over the last 18 months since acquisition, we have realised there were limited synergies between our cruise business in Cairns and on Sydney Harbour. Hence, the sale of Ocean Spirit Cruises will allow us to concentrate our efforts on expanding our Sydney Harbour cruise operations and other tourism investments"
"I have no doubt Ocean Spirit Cruises � one of the most desired cruise experiences in Cairns - will continue to prosper under Quicksilver's ownership" continued Sudhir Warrier.
This transaction will in no way affect a continued smooth operations and transition for all of our agents and future bookings. Every effort will be made by both Quicksilver and Australian Cruise Group sales teams to facilitate a smooth transition of all forward bookings on Ocean Spirit Cruises at the conclusion of the sale.