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Acquisition grows capacity of the world’s third largest cruise operator close to 20%
Wiesbaden, November 20, 2014
Norwegian Cruise Line Holdings Ltd. (Nasdaq: NCLH) (the “Company”), a leading global cruise operator, has announced that it has completed its previously-announced acquisition of Prestige Cruises International, Inc. (“Prestige”), the market leader in the upscale cruise segment and parent company of Oceania Cruises and Regent Seven Seas Cruises, in cash and stock for a total transaction consideration of $3,025 billion, including the assumption of debt.
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. Each brand offers differentiated experiences in their respective segments. The Norwegian Cruise Line brand provides the freedom and flexibility of a resort-style holiday on board some of the most innovative ships in the industry with its unique Freestyle Cruising proposition. Oceania Cruises offers an upper premium experience with the finest cuisine at sea on its fleet of mid-sized ships, while Regent Seven Seas Cruises is the market leader in the luxury cruise segment and operates three award-winning, all-suite ships, with an additional ship on order for delivery in summer 2016.
Commenting on the closing of the acquisition, Kevin Sheehan, President and Chief Executive Officer of Norwegian Cruise Line Holdings Ltd., 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. 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.”
Frank Del Rio, Chief Executive Officer of Prestige Cruise Holdings, Inc., commented, “we’re excited to officially join the Norwegian family and ready to begin this next chapter as one united company. Together, we will further our brands’ position as leaders in the upper-premium and luxury cruise markets by continuing to deliver an exceptional on-board experience for our guests, and expand the reach of both Oceania Cruises and Regent Seven Seas Cruises throughout the world.”
About Norwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. (Nasdaq: NCLH) is a diversified cruise operator of leading global cruise lines spanning market segments from contemporary to luxury under the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands.
These brands operate a combined 21 ships with approximately 40.000 lower berths visiting more than 430 destinations worldwide. The company’s brands will introduce five new ships through 2019.
Norwegian Cruise Line is the innovator in cruise travel with a history of breaking the boundaries of traditional cruising, most notably with the introduction of Freestyle Cruising, which revolutionized the industry by giving guests more freedom and flexibility on the most contemporary ships at sea. Oceania Cruises is the market leader in the upper-premium cruise segment featuring the finest cuisine at sea, gourmet culinary experiences, elegant accommodation, impeccable service and destination-driven itineraries. Regent Seven Seas Cruises is the market leader in the luxury cruise segment with all-suite accommodation, highly personalized service and the industry’s most inclusive luxury experience featuring round-trip air, fine wines and spirits and unlimited shore excursions among its numerous included amenities.
About Norwegian Cruise Line
Norwegian Cruise Line is an internationally operating cruise line headquartered in Miami, Florida with two offices in Wiesbaden and London overseeing operations in Europe.
Founded in 1966, Norwegian Cruise Line is the innovator in cruise travel with a history of breaking the boundaries of traditional cruising, most notably with the introduction of Freestyle Cruising which revolutionized the industry by giving guests more freedom and flexibility. Today, Norwegian invites guests to “Cruise Like a Norwegian” on one of 13 purpose-built Freestyle Cruising ships, providing guests the opportunity to enjoy a relaxed cruise holiday on some of the newest and most contemporary ships at sea. In August 2014, the line was named “Europe’s Leading Cruise Line” for the seventh consecutive year, as well as in October 2014, for the second consecutive year, “Caribbean’s Leading Cruise Line” by the World Travel Awards. In addition the company has received the World Travel Award as “World’s Leading Large Ship Cruise Line” in 2012 and 2013.
Norwegian Cruise Line’s largest Freestyle Cruising ship to date, Norwegian Epic, debuted in June 2010 and, in the United States, has been named “Best Overall Cruise Ship” by the readers of Travel Weekly two years in a row and “Best Ship for Sea Days” by Cruise Critic. The Company recently took delivery of its most innovative ship to date, the 4.000-passenger Norwegian Getaway in the first quarter of 2014. The largest ship to homeport year-round in Miami, Norwegian Getaway boasts 28 dining venues, including seafood restaurant Ocean Blue by famed New York Iron Chef Geoffrey Zakarian and a branch of Carlo’s Bake Shop by Buddy Valastro, star of the TLC series “Cake Boss”. The entertainment line-up includes Broadway shows Legally Blonde and Burn the Floor and the unique dining and magic venue, the Illusionarium. Known as New York’s ship, sister ship Norwegian Breakaway is the largest vessel to homeport year-round in the city. The Company has four 4.200-passenger vessels on order at Meyer Werft: Norwegian Escape with delivery scheduled in the autumn of 2015, Norwegian Bliss with delivery in the spring of 2017 and two further ships with delivery in the spring of 2018 and autumn of 2019.
Norwegian Cruise Line is the official cruise line of the Miami Dolphins/Sun Life Stadium, The New York Knicks and Legends in Concert; and the official cruise line partner of The GRAMMY Awards and is an official partner of the Rockettes and Radio City Music Hall.
Norwegian Cruise Line press release
