Prestige Cruises Withdraws IPO Plan

Prestige Cruises International Inc, which was bought by Norwegian Cruise Line Holdings Ltd in a $3 billion deal in September, filed with U.S. regulators to withdraw its plan for an initial public offering.

Prestige Cruises, which operates under the Oceania and Regent Seven Seas brands in the upper premium and luxury segments, was created by Apollo Global Management LLC in 2007 to hold its luxury cruise investments.

Prestige Cruises filed in January last year to go public, with a nominal fundraising target of $250 million. (http://1.usa.gov/14QjugY)

Miami-based Norwegian Cruise operates 21 ships in routes spanning North America, the Mediterranean, the Baltic, Central America and the Caribbean.

 

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Maju Samuel)