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Waveland Investments News

15 Apr 2002

Delta Queen Makes A Comeback

Following the decision to enter into bankruptcy this past October, American Classic Voyages has agreed to sell two of steamboats - Delta Queen and Mississippi to Chicago-based investment firm Waveland Investments LLC for $3.75 million. The company, which is privately-held, plans to take over the boats, effective next month. Mississippi Queen, which ceased operations in October, will resume its itinerary on May 7, while Delta Queen, which halted its schedule in January will begin sailing again on August 26. While the sale of the vessels was confirmed this past weekend, there is still a possibility that the vessels could be passed off to another buyer when they are auctioned off in Chicago on May 3 - provided that If another group outbids Waveland's offer.

07 May 2002

Bidding War Comes to an End

In what has escalated into a heated bidding war for what was left of American Classic Voyages' Delta Queen Steamboats, came to an end yesterday with Delaware North Companies sealing the deal with the steamboats' parent company. As originally reported on Marinelink last month, Chicago-based Waveland Investments and New Orleans-based Uniworld had submitted bids for the two steamships - Delta Queen and Mississippi Queen - the two remaining ships of the line, which declared bankruptcy this past October. Waveland submitted its $3.75-million bid, with intentions to take over the vessels following their auction on May 3. Delaware North, however had other plans.

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