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Apollo Buy Share of NCL

Private equity group, Apollo Management, have paid $1 billion dollars to NCL for a 50% stake in the cruise line. NCL have stated that the money will be used to implement a series of enhancements to their fleet known as Freestyle 2.0.

Outside investment in NCL seemed inevitable as they try to compete in what is a very competitive market with the likes of the Carnival Corporation and Royal Caribbean. The first of two $1.1 billion F3 prototypes is due in 2009 which adds to the considerable spending NCL has undertaken in the last few years.

The original sole shareholder, Star Cruises, has retained the other 50% share in the company.


Apollo Buy Regent Seven Seas

Regent Seven Seas have been purchased by equity company, Apollo Management, for a fee that has yet to be disclosed.

Five-star cruise line Regent Seven Seas were formed in 1992 following a merger between Radisson cruises and Seven Sea Cruises. Their fleet consists of four ships, Seven Seas Navigator, Seven Seas Voyager, Seven Seas Mariner and Paul Gauguin. All four vessels are designed to cater for hundreds, rather than thousands, of guests with the cruise line offering cruises to over 300 ports on six continents.

Update August 2009, Paul Gauguin has now been sold.