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18 November 2019 The on-line newspaper devoted to the world of transports 06:59 GMT+1



August 6, 2019

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Original news
Genting Hong Kong will yield until 35% of the capital of the Dream Cruises to TPG and Ontario Teachers'

The transaction will have a value of about 489 million dollars

The group Genting Hong Kong (GHK) has signed an agreement in order to yield until 35% of the capital stock of the crocieristica company Dream Cruises, than the group malaysian Genting Berhad it has created in 2016, to the societies of private equities TPG Capital Asia and TPG Group of American group TPG and to the pension fund Canadian Ontario Teachers' Pension Plan (OTPP).

The quota will be yielded for about 489 million dollars, figure that a value assigns to Dream Cruises almost 1,4 billion dollars, and the acquisition will be carried out in two tranche, with first relative to the cession at least 24.5% of the capital for a fee of 342 million dollars that are previewed will be put into effect the next second month and a relative one to the cession until to ulterior a 10.5% of the capital previewed within end 2019.

Emphasizing that "Dream Cruises is the brand premium that is dedicated at the market of the Asian crocieristi in fast increase, that has the objective to carry them in cruise with Dream Cruises in all the regions of the world", the president and managing director of Genting Hong Kong, Tan Sri KT Lim, has asserted that "the TPG investment and of Ontario Teachers' the Dream Cruises will help to equip itself of the young fleet of cruise ships and technologically more advance, with the quality of the German shipbuilding, for an Asian service of excellence". The GHK manager refers in fact to the three ships Genting Dream, Explorer Dream and World Dream of the fleet of Dream Cruises that are constructed by the German ship yard Meyer Werft let alone to the new ships of "Global" class that the group has programmed to construct near the German MV Werften who takes part of same group GHK. The first ship of "Global" class, that they will have a tonnage of 204 thousand tons, will be long 342 meters, wide 46,4 meters and will have an ability to about 5 thousand fleeting, will be delivered by the ship yard of Wismar in 2021.

Moreover - it has added Lim - "we are pleased to collaborate so newly with TPG as we have made in 2008 relatively Norwegian Cruise Line Holdings". This last crocieristico group, than work through the marks Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises, ago in fact part is of the pocketbook of Genting Hong Kong that of that of the American TPG that in January 2008 has entered in the share compages of Norwegian Cruise Line Holdings buying 12.5% of the capital. In the crocieristico segment of the TPG pocketbook figure also the Viking Cruises company.

Vincenzo Miele



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