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Norwegian Cruise Line Buys Prestige for $3B, Adding Luxury Brands

Brittany Umar
9/02/14 12:25 PM EDT
Norwegian Cruise Line Holdings said it will buy Prestige Cruises, parent of Oceania and Regent Seven Seas Cruises, for more than $3 billion in cash and stock. Norwegian says the rationale to acquire Prestige includes the diversification of its cruise market segments by adding upper premium and luxury brands, enhanced financial metrics, opportunities for synergies, greater operational leverage, the expansion of its global footprint, and the opportunity to complement Norwegian's new build program with an existing Regent order, which it says provides measured, orderly capacity growth through 2019.
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