Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH): Corporate Updates


Dallas, Texas 12/03/2014 (FINANCIALSTRENDS) – Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) has delivered more than 13% returns over the past one month. The stock recently marked new 52-week high of $45.07 and has gained more than 50% from its 52-week low.

The company recently announced to complete acquisition of Prestige Cruises International, Inc., appointment of President and Chief Operating Officer for this business and fleet expansion for Oceania Cruises in 2016.

Appointment and Acquisition

Norwegian Cruise appointed Jason Montague, as President and COO of Prestige Cruise Holdings, Inc. Mr. Montague served as EVP and CFO of Prestige prior to this acquisition. He was also instrumental in launching Oceania Cruises more than a decade ago, and overlooking the financing and delivery of Marina and Riviera new builds. He also played vital role in the acquisition and integration of Regent Seven Seas Cruises and most recently served as Chief Integration Officer for Norwegian Cruise Line Holdings Ltd.

Prestige, parent company of Oceania Cruises and Regent Seven Seas Cruises, is the market leader in the upscale cruise segment. Norwegian Cruise acquired Prestige for a total consideration of $3.02 billion in a cash and stock transaction. The acquisition will help Norwegian Cruise to serve all market segments ranging from contemporary to luxury segment in the cruise industry.

Fleet Expansion

Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH)’s fleet include renowned brands that offers the most innovative ships in the industry for a resort-style vacation on board. The company recently entered into a definitive agreement with Princess Cruises, Ltd. to purchase Ocean Princess. The new vessel will be named Sirena and added to award-winning three-ship fleet of Oceania Cruises brand.

Sirena is scheduled for delivery in March 2016 and will serve the first guests on-board starting April 2016. Upon delivery, the ship will undergo refurbishment. The company will incurred $40 million to enhance the elegance to the standard of upper premium segment.

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