Carnival To Buy Remainder Of Costa Crociere

Tuesday, August 29, 2000
Carnival Corp., the world's biggest cruise operator, will buy the remaining half of Italian cruise operator Costa Crociere which it does not already own from British travel company Airtours Plc. Carnival said it expected to pay about $525 million in cash for Airtours' stake in Costa, which is headquartered in Genoa. Carnival would own all of Costa and keep a 26 percent "strategic interest" in Airtours, which it acquired in 1996. "The purchase of Airtours' 50 percent interest in Costa is a very important strategic move in the continued development of Carnival Corporation's European business," Micky Arison, Carnival chairman and CEO, said. "Costa is the largest and most successful cruise operator in Europe and will serve as Carnival's primary platform for expanding our presence in this increasingly important market," he added. Based on Costa's projected 2000 earnings, the transaction was not expected to dilute Carnival's earnings per share.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Norwegian Dawn Arrives In Boston

The Norwegian Dawn, the cruise liner that ran aground as she left Bermuda this week, has arrived in Boston.   A story in the Boston Herald says, “Passengers

Ostebo Chosen to Head CLIA

Thomas P. Ostebo will join Cruise Lines International Association (CLIA) as the organization’s new president and chief executive officer, effective July 6, 2015.

Norwegian Cruise Ship Ran Aground off Bermuda

The Norwegian Dawn cruise ship with more than 3,700 people on board ran aground in Bermuda after the vessel temporarily lost power.   Small boats, divers and

Finance

Training: Cutting Costs While Remaining Cutting Edge

Businesses are operating in tough economic times, with budgets being significantly cut during the current industry downturn. Unfortunately, when lowering costs is a key priority,

China Breaks Ground on South China Sea Lighthouse Project

China hosted a groundbreaking ceremony for the building of two lighthouses in the disputed South China Sea, state media said on Tuesday, a move that is likely to

Port Kembla Tariff hiked

NSW Ports have advised that from 1 July, there will be 2.38% increase to the Navigation Service Charge (Port Tonnage) and 3% increase to other charges (site occupancy,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | 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: 0.1180 sec (8 req/sec)