Carnival to Sell Windstar Cruises

Thursday, February 22, 2007
Carnival Corporation & plc has signed a definitive agreement to sell its Windstar Cruises brand to Ambassadors International Inc. Windstar Cruises, which operates three sailing vessels, is a wholly owned subsidiary of Holland America Line, a unit of Carnival Corporation & plc. Under the terms of the agreement, Windstar will be sold for $100 million, $40 million of which is payable in cash and assumption of liabilities, and Carnival will provide mortgage financing for $60 million. The loan will be payable over 10 years at seven percent interest, collateralized by the three Windstar ships.

Windstar Cruises’ three ships include the 312-passenger Wind Surf and the 148-passenger Wind Star and Wind Spirit.

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