Global Dream, an unfinished mega-ship, was purchased by Disney Cruise Line for a bargain price of 40 million euros.

Disney Cruise Line managed to acquire the unfinished mega-ship Global Dream, at a bargain price of 40 million euros, reports the German magazine, Stern. The €1.6 billion cruise ship, which was first ordered by Genting HK’s Dream Cruises from Germany’s MV Werften shipyard, was put up for sale by a receiver earlier this year. According to some estimates, so far 1.3 billion euros have been spent on the construction of the ship, which is 75 percent complete.

According to Stern reports, Disney will take over the ship without warranty claims and will complete and refurbish the ship at its own risk. In order for a ship of this size, which was built specifically for the Asian market, to be completed and refitted to Disney’s specifications, the company will invest almost a billion euros in the conversion.

On November 16, Disney Cruise Line announced its intention to purchase the unfinished 9,000-passenger Global Dream cruise ship.

As part of its internal renovation, Disney Cruise Line will reduce guest capacity from 9,000 to 6,000 and approximately 2,300 crew members. Disney said it was able to secure the 208,000 gross ton ship at a favorable price and “within the capital expenditure guidance” provided on the Walt Disney Company’s recent earnings call.

Disney said the ship will be completed in 2025 and will be based out of the United States, sailing to “new global destinations.” It will feature innovative Disney experiences, including signature entertainment, and rotating meals. The exterior will feature DCL’s signature colors, inspired by Mickey Mouse, and the ship’s signature red funnels.

The ship will be one of the first in the cruise industry to use green methanol, one of the lowest-emission fuels available.

The Meier Werft shipyard in Papenburg has built the Disney Dream, Disney Fantasy, and Disney Wish, and will be tasked with overseeing construction at the former MV Werften shipyard. Hundreds of former MV Werften workers will be employed and other suppliers from the maritime sector will benefit from the completion of the project.