Marine Link
Friday, September 30, 2016

Norway Rules Star Share Buying Legal

February 1, 2000

Norway's Industry Ministry gave Malaysia's Star Cruises a boost in a takeover battle for NCL Holding by saying Star's share buying did not violate Norwegian law. The ruling means that Star, which owns 47 percent of NCL, can vote at a key shareholders' meeting on Feb. 4. Ministry officials said NCL is a shipping company and therefor is exempt from a requirement obliging any buyer of a Norwegian business to notify the ministry when its holdings exceeded a third of the shares. NCL, the target of bids by Star and U.S. giant Carnival Corp., accused Star of skirting the law by failing to update Norwegian authorities when it reached one-third of the stock in December.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News