Norwegian Caribbean Acquires Royal Viking Line For $240 Million
Norwegian Caribbean Lines, the Norwegian-owned cruise ship operation based in Miami, has acquired Royal Viking Line Inc. of San Francisco (also Norwegian-owned) in a deal valued at nearly $240 million.
Under the agreement, Norwegian Caribbean will pay $86.9 million in cash and will assume some $150 million in Royal Viking outstanding debts.
The merged company, said to be the world's largest cruise ship operation with a fleet of eight ships having a total capacity of 7,200 passengers, is expected to have annual revenues of more than $600 millon.
NCL acquires three ships—the Royal Viking Star, Royal Viking Sky, and Royal Viking Sea, as well as the RVL organizations in the U.S. and Norway, and a 60-percent interest in Bennett Travel, an agency that has operations in both countries.
Royal Viking was sold by two Norwegian shipping companies, Bergenske Dampskibsselskab and Nordenfjeldske Dampskibsselskab.
Each of the former owners will receive a 7.5-percent interest in Norwegian Caribbean Lines.
Other stories from September 15, 1984 issue
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- John Cave Appointed Vice President For Boland & Cornelius page: 33
- Norwegian Caribbean Acquires Royal Viking Line For $240 Million page: 33
- Marinette Marine Corporation Gets $24~Million Navy Contract To Build Six Yard Patrol Craft page: 34
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