CruiseProceeds of disposal will fund expansion and new ship building programme

Genting Hong Kong to sell stake in Dream Cruises

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Genting Dream is one of three ships sailing for Dream Cruises.
Genting Dream is one of three ships sailing for Dream Cruises.
Dream Cruises currently operates World Dream and Genting Dream, along with Explorer Dream (ex SuperStar Virgo), and is building two next-generation 204,000gt Global-class ships for delivery in 2020 and 2021.

Genting Hong Kong Ltd has agreed to sell up to 35% of its Dream Cruises business to a subsidiary of private equity company, TPG Darting Ltd. 

Genting Hong Kong told the Hong Kong Stock Exchange on Tuesday that it would sell first at least 24.5% of the stock of Dream Cruises, and that it intended in due course to sell more shares in the company, bringing the stake bought by the TPG Darting subsidiary to 35%.

According to a Genting statement, the transaction is valued at around US$448 million.

The disposal would strengthen the group’s balance sheet and its ability to continue to expand its fleet in the cruise industry, Genting Hong Kong said in a statement.

Additionally, it would reduce the group’s financial burden in meeting future funding requirements in relation to Dream Cruises business.

In July, Genting Hong Kong announced that it had appointed Michael Goh to the positions of president of Dream Cruises and head of international sales of Genting Cruise Lines.

Dream Cruises currently operates World Dream and Genting Dream, along with Explorer Dream (ex SuperStar Virgo), and is building two next-generation 204,000gt Global-class ships for delivery in 2020 and 2021.


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