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HFW advises Genting Hong Kong on €707m newbuild

HFW advises Genting Hong Kong on €707m newbuild
A team of Holman Fenwick WillanFHH lawyers has advised Chinese Dream Ltd, a wholly-owned subsidiary of Genting Hong Kong, on its newbuild order for Star Cruises with Meyer Werft, in a deal worth €707.2m (approximately HK$7,574m).

The 150,000gt newbuild, the first in a pair of sisters, was ordered in October 2013 for delivery in October 2016. Each has a length overall of about 330mtr and 1,682 passenger cabins.

The deal, which was led by Hong Kong partner Patrick Yeung, involved HFW lawyers from both the Hong Kong and London offices. From the London office, partner Elinor Dautlich and senior associate Alex Sayegh acted for Genting in negotiating the shipbuilding contract, with partner John Forrester and associate Gudmund Bernitz advising on the ECA-backed financing of the newbuild.

HFW partner Patrick Yeung said of the deal: ‘The construction of this cruise ship is entirely in line with Genting's long-term strategy to develop its cruise business in the Asia-Pacific market. The new ship will principally serve the mainland China, Hong Kong and Taiwan markets, which are growing in terms of cruising.’