Apollo Buy Share of NCL
January 8, 2008 by Steve ·
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.
