Norway Rules Star Share Buying Legal

Tuesday, February 01, 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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Costa Concordia Used For Mafia Drug Smuggling

The doomed Costa Concordia was carrying a huge shipment of Mafia-owned cocaine when it set off on its final voyage, AP reports quoting investigators who have collected evidence.

Viking Enters Ocean Cruise Industry

Viking Ocean Cruises has announced it took delivery of Viking Star, marking the company's official arrival into the ocean cruise industry.   The delivery ceremony

VIKING LifeCraft Presented at IMO

This week, VIKING Life-Saving Equipment took a step towards gaining approval for the VIKING LifeCraft, its alternative life-saving appliance (LSA) for passenger ships.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0846 sec (12 req/sec)