12:42 pm Norwegian Cruise goes upscale with its purchase of Prestige Cruises
Norwegian Cruise Line (NCLH) is jumping 12% today on news that it will acquire Prestige Cruises, which specializes in the upscale segment of the cruise industry. It's the parent company of Oceania Cruises and Regent Seven Seas Cruises. NCLH is paying $3.025 bln including the assumption of debt.
It's a pretty large deal. NCLH currently operates 13 ships and Prestige operates eight ships so this will be quite a step up in terms of capacity. Oceania Cruises is the market leader in the upper-premium …More