WFW Advises TUI on $1.3Bn Take Over
London-based international law firm Watson Farley & Williams has advised TUI Cruises GmbH on its acquisition of Hapag-Lloyd Cruises from TUI AG for US$1.3bn, excluding net debt.According to the the transaction is subject to customary closing conditions and regulatory approvals and is expected to close in summer 2020. The deal includes the acquisition of HL Cruises’ luxury and expedition fleet, consisting of two five-star plus luxury vessels and three expedition cruise ships, by TUI Cruises. This expands TUI Cruises’ existing fleet to twelve cruise ships, which will enable it to participate in the growth of the cruise industry as the…
WQIS Offerred American Salvage Association Membership
The Water Quality Insurance Syndicate (WQIS) were accepted as a Corporate Associate member of the American Salvage Association (ASA) in a unanimous decision by their executive committee. The ASA is an association of professional salvors that strives to professionalize, educate and thereby improve marine casualty response. Established in 2000, the ASA endeavors to bring together regulatory authorities, environmental agencies, shipowners and underwriters to ensure open communication and better protect the general public and the environment.
ASA Welcomes New Members
At its recent Spring meeting, the American Salvage Association (ASA) welcomed a new General Member, 10 new Associate Members, and four new Corporate Associate Members to its ranks. The New General Member is Associated Marine Salvage, Inc., based in and led by Gordon Olson, Vice President. Eva Longobardi, Northeast Diving Services, Inc.
