Norwegian Cruise Line Completes Acquisition of Prestige Cruises

Above: inside Regent Seven Seas Voyager

By the Caribbean Journal staff

Norwegian Cruise Line has completed its previously-announced acquisition of luxury cruise company Prestige Cruises International.

Prestige is the parent company of Oceania Cruises and Regent Seven Seas Cruises; the deal was first announced in September.

The total amount of the deal, including cash and stock, was $3.025 billion, including the assumption of debt, according to a company release.

“With this acquisition, Norwegian Cruise Line Holdings Ltd. operates a portfolio of brands that span all market segments in the cruise industry, from contemporary to upper-premium to luxury,” the company said.

““While for years we have competed successfully with our one brand in an increasingly consolidated industry, our acquisition of Prestige creates a new cruise operator with a range of complementary offerings as diversified as any in the industry,” said Kevin Sheehan, president and CEO of Norwegian Cruise Line Holdings. “We now shift our focus from planning for the successful integration of these organizations to the implementation phase, with an organizational structure that allows for the realization of significant synergies while maintaining the integrity of the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands that have made each a success in their respective segment.”

The new Norwegian operates a combined 21 ships with 40,000 lower births serving more than 430 global destinations.