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Business as usual for Abercrombie & Kent following sale announcement

Business as usual for Abercrombie & Kent following sale announcement
Abercrombie & Kent will retain its distinctive brand, culture and management independence, founder Geoffrey Kent said following news that the Zhonghong Group is set to purchase a majority of the company’s equity interests from US-based Fortress Investment Group.

Kent, who operated the first African luxury tented safaris in 1962 and now provides out-of-the-box shore excursions for many of the world’s leading cruise companies, is keeping ‘a meaningful ownership interest’ in the company and continues as chairman and ceo.
The Zhonghong Group is principally engaged in the development and operation of tourism-related properties and commercial real estate in China. 
‘The relationship with Zhonghong will give us access to capital to finance new investments in the expanding luxury and adventure travel markets,' Kent said.
‘The management board remains unchanged and founder, chairman and ceo Geoffrey Kent remains at the helm of the company,’ Melbourne-based Sujata Raman, regional md Australia/Asia Pacific, told Seatrade Cruise News.
Last year Raman, whose clients include Silversea, Crystal Cruises, P&O, Princess and Royal Caribbean, appointed Australian cruise industry veteran Karen Lee Davies as national turnaround manager. 
Miami-based David Vass, A&K’s svp worldwide cruise business and operations, and Raman are again hosting the gala dinner at the annual conference of the Australian Cruise Association in Sydney September 7-9. 

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