Norwegian Cruise said to be near US$3b Prestige Cruises deal
Purchase will give operator access to ships, clientele
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[NEW YORK] Norwegian Cruise Line Holdings Ltd, the world's third largest cruise operator, is in advanced talks to acquire peer Prestige Cruises International Inc for around US$3 billion, according to people familiar with the matter.
A deal would give Norwegian Cruise, a company with a market value of US$6.8 billion, access to Prestige Cruises' luxury cruise ships and affluent clientele as it competes with bigger rivals Royal Caribbean Cruises Ltd and Carnival Corp.
An agreement may be announced as early as this week, the sources said on Sunday, cautioning that the talks could still fall apart. The owner of Prestige Cruises, private equity firm Apollo Global Management LLC, also owns a 20 per cent stake in Norwegian Cruise.
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