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Norwegian hopes to close on Prestige deal by mid-November

The acquisition of Prestige Cruises International is moving forward and will likely close by mid-November, Norwegian Cruise Line Holdings CEO Kevin Sheehan told Seatrade Insider.

One outstanding item, a waiver related to the financing for Seven Seas Explorer, under construction at Fincantieri's Sestri Ponente, is expected from Italy's export credit agency, SACE. That should be just a formality, Sheehan said.

Last week the $3bn Norwegian-Prestige deal received US antitrust clearance following a Hart-Scott-Rodino review. The week before, company officials met with Moody's and Standard and Poor's ratings agencies, Sheehan said.

The closing would take place 20 days after the filing of a shareholders' information statement that details the acquisition, which is to be financed with cash, new and existing debt facilities and by issuing nearly 20.3m NCLH shares or approximately $670m to Prestige shareholders.

The deal already has the green light from Norwegian's major shareholders.

Sheehan said the company plans an investor meeting in December in New York.

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