Norwegian Cruise Line has announced a definitive agreement to acquire Prestige Cruises International, the parent company of Oceania Cruises and Regent Seven Seas Cruises. Norwegian will pay $3.025 billion in cash and stock, including the assumption of debt.
Frank Del Rio will remain chief executive officer of Prestige.
Travel Agent reported on the possibility of the deal yesterday, when Reuters noted that Norwegian and Prestige were in the final stages of negotiations on the deal.
Prestige operates eight ships and approximately 6,500 berths under two brands. The upper-premium Oceania Cruises has five ships offering destination-oriented cruise vacations to more than 330 ports around the globe, and Regent Seven Seas Cruises has three luxury, all-suite ships, with an additional ship on order for delivery in summer 2016.
We'll be back later this morning with some agent perspective on the deal - stay tuned to www.travelagentcentral.com for further details.
UPDATE: Norwegian Cruise Line has also released a letter to travel agents explaining the deal. Agents can read that letter here.