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Royal Caribbean has announced that it has agreed to buy Pullmantur, the Spanish tour operator and cruise company. The deal is subject to approval by the competition regulatory authorities. Pullmantur has agreed to terminate its opertions in Cuba prior to completion of the deal. From the press release it seems that the acquiaition is being financed by yet a further increase in RCL borrowing.

Fred (Read)
 

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Star

david smith said:
Also a rumour that MSC is interested in Norwegian Cruise Line from Star Cruise
It would make sense, David. MSC are very keen to expand and have made a lot of money from the container freight rate boom. Star have only achieved marginal profits in their good years and have very heavy debts. In the first six months of 2005 they made $12 million profit. In the first six months of this year they lost $69 million. Watch this space.

Fred
 
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