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Report: Apollo Management acquires Regent Seven Seas Cruises

Posted by Anita Dunham-Potter On November - 5 - 2007

Paul Gauguin moored off Bora Bora (image courtesy of Regent Seven Seas Cruises) According to cruise industry publication Seatrade Insider, Apollo Management has won a bid to acquire Regent Seven Seas Cruises for $1 billion from the Carlson Companies. Apollo Management said they had “no comment” on the reported deal and a Regent Seven Seas Cruises spokesman said he was not at liberty to address any possible transaction, and a Carlson corporate spokesman said he could not remark on ‘market speculation.’

According to the Seatrade Insider report, DVB Bank is believed to be among four banks providing debt to finance the potential transaction. London-based CVC Global Capital and Denver-based KSL Capital Partners are understood to have been other interested parties. Both are private equity investors.

Apollo is the New York-based private equity firm that recently took a $1 billion cash equity stake in Norwegian Cruise Line Corporation to become a 50-50 owner with Star Cruises. Additionally, Apollo made an investment in Oceania Cruises valued around $850 million. Apollo is also believed to be close to finalizing another potential investment in the travel sector.

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