Norwegian Cruise Takes Over Prestige

Norwegian Cruise's Multi-Billion Catch

Norwegian Cruise Line Holdings Ltd., has entered into a definitive agreement to acquire Prestige Cruises International, Inc., parent company of Oceania Cruises and Regent Seven Seas Cruises, in cash and stock for a total transaction consideration of USD 3.025 billion, including the assumption of debt, the company announced in a press release.


“The acquisition of Prestige represents an extraordinary opportunity for Norwegian Cruise Line to expand our market presence by adding two established, award-winning brands in the upscale cruise segment with loyal followings,” said Kevin Sheehan, Norwegian Cruise Line’s chief executive officer.

“Not only does this acquisition immediately enhance our financial performance, but it also deepens the bench of talent that we have been developing over the years.

Our complementary strengths and skillsets will pave the way for new cross-selling opportunities, cross-brand collaboration, cross-business support, as well as joint partnerships which, coupled with meaningful synergies that can be quickly implemented, will provide solid accretion to earnings per share and drive long-term shareholder value,” said Sheehan.

Prestige operates eight ships and approximately 6,500 berths under two segment-leading brands. Oceania Cruises operates in the upper-premium cruise segment with five ships offering destination-oriented cruise vacations to more than 330 ports around the globe.

Regent Seven Seas Cruises operates three award-winning, all-suite ships, with an additional ship on order for delivery in summer 2016.

The combination of three distinct brands, each serving a different market segment, under one umbrella immediately creates an industry-leading cruise operator with an unmatched growth trajectory and a portfolio of products that allows us to appeal to guests at every stage of their life cycle,” said Sheehan.

“We are fully committed to retaining the brand propositions, guest experiences and cultures of the Norwegian, Oceania and Regent brands that have allowed each to realize such success.”

Press Release; September 02, 2014



Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2015 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Marintec South America

Marintec – South American Maritime Exhibition for Shipbuilding, Platform and Maintenance

As part of the UBM/Seatrade portfolio, Marintec South America is a trade-show for anyone who wants to stay ahead in the maritime market.

Why visit?

  • Be inspired by thousands of products and services on show
  • Find out what´s new in the market by chatting to suppliers and peers
  • Come away with genuine solutions, exciting ideas, and a fresh outlook
  • Pick up new ideas from the experts of industry through our seminar sessions and technical presentation

Why Exhibit in Rio de Janeiro/ Brazil?

  • Rio de Janeiro is the headquarter of Petrobras and its mains shipyards / ship owners
  • Rio de Janeiro is an international reference center for training of professionals for the offshore oil and gas industry
  • Brazil produces over 2 million barrels of oil per day and the offshore production will double this by 2020
  • The Brazilian shipbuilding industry has been grown 19,5% per year since 2000
  • Investments in the industry should exceed BRL 200 billion before 2020
  • The oil and gas industry reached about 12% of the total Brazilian GDP and may reach 20% by 2020
  • The offshore exploration will move R$ 3.7 trillion over the next 30 years and will generate 87 million jobs
  • Petrobras’ total pre-salt needs estimate: 97 platforms, 510 support vessels and 140 oil tankers

Read more about the conference here.

read more >

3rd Annual LNG Bunkering 2015 Conference

IBC’s ‘LNG Bunkering Summit’ returns for the 3rd time, with a view to profile latest developments and opportunities in key trade routes globally, and particularly in Singapore.

Join your industry partners as they crack the ‘chicken and egg’ dilemma while focusing on first-mover benefits, infrastructure, supply and pricing that makes switching to LNG a viable option.

The 3rd LNG Bunkering Summit is part of a suite of events in The Bunkering Week, which incorporates 3 co located conferences and will attract over 200 top decision makers. LNG Suppliers, Traders, Ship Owners and builders will convene to address commercial, regulatory, supply-demand, price and global market issues.

More info

Contact Details:
Email: register@ibcasia.com.sg
Telephone: +65 6508 2401
Fax: +65 6508 2407
Mail: IBC Asia (S) PTE LTD, 111 Somerset Road, TripleOne Somerset #10-06 Singapore 238164

read more >

7th Bunkering in Asia 2015 Conference

If Quality and Compliance challenges were not enough, oil prices have provided a further twist to industry dynamics. Further, recent developments have yet again resulted in a review of credit and counter party risk management within the value chain.

What then should the industry response be? How can we look ahead and determine strategies that have a positive impact on our business? If tapping successfully into new market segments was high priority, assessing watertight alternatives to protect your business is of equal importance.

Part of The Bunkering Week, the 7th Bunkering in Asia is back in Singapore to provide networking, expert viewpoints, and commercial opinions that matter.

More info

Contact Details:
Email: register@ibcasia.com.sg
Telephone: +65 6508 2401
Fax: +65 6508 2407
Mail: IBC Asia (S) PTE LTD, 111 Somerset Road, TripleOne Somerset #10-06 Singapore 238164

read more >

Scrubber Summit Conference 2015

When reviewing the Exhaust Gas Cleaning System investment, vessel route, the amount of time spent in an ECA region and long term HFO – MGO differentials are just some of the issues ship owners’ are grappling with.

The drop in oil prices though has shifted the market economics of investments in Exhaust Gas Cleaning Systems. Long touted as a viable option for complying with low sulphur regulations, the industry is now actively evaluating HFO – Scrubber economics, and taking decisions to embraced scrubber technology.

The Scrubber Summit is your platform to raise questions and get commercial and technical solutions from technology experts and ship owners. It is part of a suite of events in The Bunkering Week, which incorporates 3 co located conferences and will attract over 200 top decision makers.

More info

Contact Details:
Email: register@ibcasia.com.sg
Telephone: +65 6508 2401
Fax: +65 6508 2407
Mail: IBC Asia (S) PTE LTD, 111 Somerset Road, TripleOne Somerset #10-06 Singapore 238164

read more >