NCL Aims To Block Star Bid

Friday, January 28, 2000
NCL Holding plans to block a takeover bid from Star Cruises, accusing it of skirting the law and buying NCL shares. Officials of NCL, which is the target of a bid war between Star and Carnival Corp., said Star could not wield its 47 percent stake in NCL at a key shareholders' meeting because the company failed to update Norwegian authorities about its share buying. Under Norwegian law, any firm seeking to acquire parts of a Norwegian business has to notify the Industry Ministry when its stake exceeds one-third, a half and two-thirds of the stock. NCL said Star passed one-third of the stock in December without informing the ministry. Star argues that NCL is a shipping company and so is exempted from the notification requirement.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Turbocharger Retrofits for Royal Caribbean

MAN PrimeServ informs it has won the contract from Royal Caribbean Cruises Ltd. (RCCL) to retrofit the turbochargers aboard four cruise liners from its fleet.   The

South Africa Ports Gear Up for Cruise Season

South Africa’s ports are ramping up for a bumper cruise season with at least eight luxury cruise lines and over ten passenger vessels of varying sizes set to ferry

IMC to Design New Catamaran for Bali Hai Cruises

Marine tourism operator Bali Hai Cruises has selected International Maritime Consultants (IMC) for the design of its next generation day cruise catamaran.   Working closely with Bali Hai Cruises,

Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0797 sec (13 req/sec)