Genting HK to sell 2.3% stake in Norwegian Cruise for US$148.3m

GENTING Hong Kong will sell a further 2.3 per cent stake in Norwegian Cruise Lines Holdings for net proceeds of about US$148.25 million.

Genting Hong Kong, a cruise and leisure company, expects to book a gain of about US$14.5 million from the disposal, which will reduce its stake in Norwegian Cruise Lines to 11.1 per cent from 13.4 per cent.

On Dec 14, Genting Hong Kong and fund manager Apollo entered into an underwritten disposal deal with Goldman Sachs to sell 10.3 million shares of Norwegian Cruise Lines for US$296.5 million in net proceeds. Half of the shares being sold, or about 5.2 million shares, will come from Genting Hong Kong's wholly owned subsidiary Star NCLC Holdings.

Trading of Genting Hong Kong shares will resume on Wednesday after it was halted on Tuesday for the announcement.