Norwegian Caribbean Acquires Royal Viking Line For $240 Million

Norwegian Caribbean Lines, the Norwegian-owned cruise ship operation based in Miami, has acquired Royal Viking Line Inc. of San Francisco (also Norwegian-owned) in a deal valued at nearly $240 million.

Under the agreement, Norwegian Caribbean will pay $86.9 million in cash and will assume some $150 million in Royal Viking outstanding debts.

The merged company, said to be the world's largest cruise ship operation with a fleet of eight ships having a total capacity of 7,200 passengers, is expected to have annual revenues of more than $600 millon.

NCL acquires three ships—the Royal Viking Star, Royal Viking Sky, and Royal Viking Sea, as well as the RVL organizations in the U.S. and Norway, and a 60-percent interest in Bennett Travel, an agency that has operations in both countries.

Royal Viking was sold by two Norwegian shipping companies, Bergenske Dampskibsselskab and Nordenfjeldske Dampskibsselskab.

Each of the former owners will receive a 7.5-percent interest in Norwegian Caribbean Lines.

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