Acquisition grows capacity of the world’s third largest cruise operator close to 20%
Identified synergies of $25 million with additional opportunities post-integration
Acquisition enhances Company’s industry-leading financial metrics
MIAMI – November 19, 2014
– Norwegian Cruise Line Holdings Ltd. (Nasdaq: NCLH) (the “Company”), a
leading global cruise operator, 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 vacation 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
onboard 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 accommodations,
impeccable service and destination-driven itineraries.
Regent Seven
Seas Cruises is the market leader in the luxury cruise segment with
all-suite accommodations, 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.
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