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Star Cruises, Carnival Take Over Norwegian Cruise Firm.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, February, 2000 by Corzo, Cynthia
Feb. 5--Star Cruises and Carnival Corp. took control of Norwegian Cruise Lines Friday, increasing their stake in parent company NCL Holding to nearly two-thirds of the shares and installing a new board of directors and a new chief executive.
The moves put an end to the contentious, two-month bidding war over NCL. Both companies fought for control of NCL before joining forces this week in a surprise bid of $1.9 billion in cash and assumed debt.
"Norwegian Cruise Line, together with Star Cruises, and of course with Carnival, will be much stronger," Star Chief Executive Colin Au Fook Yew said at a special shareholders' meeting in Oslo. "We will build bigger and newer ships to add to the NCL fleet."
The new board will be chaired by Ole Lund,...
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