Star Cruises Unit Sells $1b Stake to Apollo

Tuesday, August 21, 2007
Star Cruises Ltd unit NCL Corporation Ltd (NCL) is selling a 50 percent stake to a global private equity group, Apollo Management LP, for $1b. Star Cruises said the proceeds of the Apollo investment would be used to refinance existing NCL indebtedness, greatly increasing the liquidity available to fund a continuation of the dramatic new shipbuilding program.

Under the agreement, Star Cruises and the New York-based Apollo — which manages more than $33b in funds — would each hold 50 percent of NCL. The transaction is expected to be completed early in the fourth quarter of 2007 and is subject to regulatory approval, Star Cruises’ shareholder approval, and Star Cruises and NCL lender consent. (Source:http://www.theedgedaily.com/)

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

Cruise Ship Trends

MSC Cruise to Homeport in China

MSC Cruises has announced that the MSC Lirica will homeport in Shanghai to serve the Chinese cruise market, through a strategic partnership with CAISSA Touristic Group.

Titanic's Last Luncheon Menu Heading to Auction

More than a century after first-class passengers aboard the ill-fated Titanic ate grilled mutton chops and custard pudding in an elaborate dining room, the ship's

Carnival Ramping Up in New Orleans

Carnival on track for record year from Port of New Orleans in 2015; expects to embark 3 millionth passenger post-Katrina next year   New Orleans’ number one cruise

Navy

Chinese Ships Headed Home After Bering Sea Sighting

Five Chinese Navy ships sighted in the Bering Sea off Alaska during a visit to the region by U.S. President Barack Obama have begun their "return transit," the top uniformed officer in the U.

Greece Wants EU Funding to Tackle Migrant Influx

Greece will ask the European Union for about 700 million euros to build infrastructure to shelter the hundreds of refugees and migrants arriving on its shores daily, the government said on Thursday.

Taiwan Eyes Budget for New Submarines

Taiwan’s defense ministry seeks financing to expand the country’s submarine fleet, reports Reuters quoting local media reports.   The government has allocated $92.

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Winch
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: 0.2311 sec (4 req/sec)