Norwegian Cruise to buy Apollo's Prestige Cruises

[BANGALORE] Norwegian Cruise Line Holdings said that it would buy Prestige Cruises International from its owner Apollo Global Management LLC in a US$3 billion deal to expand its high-end luxury cruise offerings.

Shares of Norwegian Cruise, the world's third-largest cruise operator, were up 13 per cent at US$37.57 in early trading.

Prestige, which in January registered with US regulators for an initial public offering, owns upper-premium cruise operator Oceania Cruises and luxury cruise operator Regent Seven Seas Cruises. The company operates eight ships, with about 6,500 berths.