Marine Link
Friday, October 21, 2016

P&O And Festival To Team Up

May 19, 2000

The Peninsular and Oriental Steam Navigation Co. (P&O) and Festival Cruises have agreed, subject to contract, to join together in the expansion of the global cruise business. Festival will join P&O Cruises, Princess Cruises and Germany's Aida Cruises, positioning it as the world's most international cruise company.

Included in the merger is Festival's existing fleet of four vessels, a newbuilding program, which is currently underway in France and its pan-European sales and marketing network of subsidiaries in 10 countries.

P&O is expected to merge with Festival through a mixture of cash and shares, which will depend partly on future results. With strong profits, this would have a value of up to $400 million.

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News