Deal to be completed in 2nd Q 2015-03-04
Genting Hong Kong buys Crystal Cruises
Genting Hong Kong has bolstered its presence in the high-end cruise market after purchasing Crystal Cruises from Japan’s Nippon Yusen Kabushiki Kaisha for USD 550M. The deal will be financed with existing cash and bank loans.
2015-03-05
Reading time 29 seg
Genting Hong Kong has bolstered its presence in the high-end cruise market after purchasing Crystal Cruises from Japan’s Nippon Yusen Kabushiki Kaisha for USD 550M. The deal will be financed with existing cash and bank loans.
“Crystal Cruises offers the epitome of luxury cruising and the service standard that all other cruise lines aspire to,” Genting Hong Kong Chairman, Chief Executive and acting President Lim Kok Thay said in a statement.
The company is based in Delaware and California, operating two high-quality ships—Crystal Symphony and Crystal Serenity, which are worth a combined $330 million.
The takeover is reliant upon the completion of a planned restructuring of Crystal Cruises that involves converting the company from a corporation into a limited liability company, among other business items.
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