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March 3, 2015

Genting Hong Kong to acquire Crystal Cruises for $550m

Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK Line) has agreed to sell its subsidiary luxury cruise line Crystal Cruises to Genting Hong Kong (GHK), for $550m in cash.

By Samseer M

Crystal Serenity

Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK Line) has agreed to sell its subsidiary luxury cruise line Crystal Cruises to Genting Hong Kong (GHK), for $550m in cash.

With the purchase deal, Crystal Cruises’ fleet will increase by one vessel in addition to its current Crystal Symphony and Crystal Serenity.

Crystal Cruises president and COO Edie Rodriguez said: "The proposed expansion of our fleet will present our loyal Crystal Society members and new luxury cruise guests with more itinerary options, accommodation choices and exceptional vacation experiences, as we continue to position Crystal as the innovative leader in global luxury cruising.

"Crystal…will continue to focus on our award-winning guest service and our strong partnership with the travel agent community."

"Additionally, Crystal’s veteran leadership, management and crew will continue to focus on our award-winning guest service and our strong partnership with the travel agent community, which now has a greater opportunity to grow their business with a larger menu of Crystal product offerings."

The acquisition is expected to close in the second quarter of this year.

Built in 1995, the 51,044t Crystal Symphony is capable of accommodating 940 passengers and 545 crew members. The vessel underwent a refurbishment programme in 2009.

With a gross tonnage of 68,000t, Crystal Serenity will be able to accommodate 1,080 passengers and 635 crew members.

Constructed in 2003, Crystal’s second cruise ship completed its renovation in 2011.


Image: Crystal Serenity completed its renovation in 2011. Photo: courtesy of Crystal Cruises.

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