End of an era as Apollo, Genting HK cash out of Norwegian Cruise Line

Offering priced at $51/share

Apollo and Genting HK are selling 18,877,089 NCLH shares at a price of $51 per share. The offering is expected to close on or about Dec. 3.

$85m share buyback by NCLH

Concurrent with the completion, NCLH plans to buy back up to $85m worth of NCLH shares from underwriter Morgan Stanley. The buyback is part of Norwegian’s existing $1bn share repurchase program.

Private equity giant Apollo, which currently holds a 7.1% stake in NCLH, is selling its remaining 15,728,782 shares. Genting HK, the parent of Star Cruises, Dream Cruises and Crystal Cruises, with a 1.4% stake in NCLH, is selling its remaining 3,148,307 shares.

Apollo and Genting HK have been reducing their holdings through a series of secondary offerings since NCLH went public in January 2013.

Shares closed at $51.59, up 63 cents, on Wednesday.

Add Seatrade Cruise News to your Google News feed.

End of an era as Apollo, Genting HK cash out of Norwegian Cruise Line Holdings

Offering priced at $51/share

$85m share buyback by NCLH