By John Roberts
UPDATE: Here is a press release confirming the deal first reported by Reuters.
MIAMI -- September 2, 2014 -- Norwegian Cruise Line Holdings Ltd. (Norwegian Cruise Line or Norwegian, (NASDAQ: NCLH)), a leading global cruise operator, today announced it has entered into a definitive agreement to acquire Prestige Cruises International, Inc. (Prestige), the market leader in the upscale cruise segment and parent company of Oceania Cruises and Regent Seven Seas Cruises, in cash and stock for a total transaction consideration of $3.025 billion, including the assumption of debt.
Norwegian Cruise Line is negotiating to buy Prestige Cruise Holdings, which owns luxury lines Oceania Cruises and Regent Seven Seas Cruises, for about $3 billion, according to a report by Reuters.
Private-equity company Apollo Global Management owns Prestige Cruise Holdings as well as a 20 percent portion of Norwegian Cruise Line.
The proposed deal reported by Reuters using unnamed sources would add eight ships to NCL's fleet of 13. NCL also has Norwegian Escape coming in spring 2015 and Norwegian Bliss in 2017, plus two more unnamed ships in the works.
I would suggest adding the fun ropes courses and plank walks to any new ships arriving in the NCL fleet!
More news . . .
UPDATE: Here is a press release confirming the deal first reported by Reuters.
MIAMI -- September 2, 2014 -- Norwegian Cruise Line Holdings Ltd. (Norwegian Cruise Line or Norwegian, (NASDAQ: NCLH)), a leading global cruise operator, today announced it has entered into a definitive agreement to acquire Prestige Cruises International, Inc. (Prestige), the market leader in the upscale cruise segment and parent company of Oceania Cruises and Regent Seven Seas Cruises, in cash and stock for a total transaction consideration of $3.025 billion, including the assumption of debt.
Norwegian Cruise Line is negotiating to buy Prestige Cruise Holdings, which owns luxury lines Oceania Cruises and Regent Seven Seas Cruises, for about $3 billion, according to a report by Reuters.
Private-equity company Apollo Global Management owns Prestige Cruise Holdings as well as a 20 percent portion of Norwegian Cruise Line.
The proposed deal reported by Reuters using unnamed sources would add eight ships to NCL's fleet of 13. NCL also has Norwegian Escape coming in spring 2015 and Norwegian Bliss in 2017, plus two more unnamed ships in the works.
I would suggest adding the fun ropes courses and plank walks to any new ships arriving in the NCL fleet!
More news . . .
Princess Cruises says it has found a way to utilize the Retreat Pool area on its brand new Regal Princess ship. The Night Sky Lounge, an exclusive top deck nightclub will emerge one night on each cruise this fall when the ship debuts at its homeport in Miami. Passengers (for a fee) can partake in the chic Miami South Beach-style environment -- complete with glowing furniture. A DJ will pump out music over a state-of-the-art audio system, and enjoy the poolside entertainment. You can have cocktails served at the onsite bar, or request VIP bottle service in a cabana.
Thanks for reading,
JR
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