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Norwegian rumoured to be close to major takeover deal
Norwegian Cruise Line is in advanced talks to buy Prestige Cruises International for around $3 billion, according to Reuters.
It said a deal would give Norwegian, which has a market value of $6.8 billion, access to Prestige Cruises’ luxury cruise ships and affluent clientele as it competes with bigger rivals Royal Caribbean Cruises and Carnival.
Quoting ‘people familiar with the deal’, Reuters said an agreement may be announced as early as this week.
The owner of Prestige Cruises, private equity firm Apollo Global Management, also owns 20% of Norwegian Cruise.
Norwegian Cruise and Prestige Cruises representatives did not respond to requests for comment, while an Apollo spokesman declined to comment.
Miami-based Norwegian Cruise operates 13 cruise ships while Prestige, also based in Miami, operates under the Oceania and Regent brands, which together have eight cruise ships.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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