Genting Hong Kong has boosted its stake in Dream Cruises as part of a US$307 million deal aimed at keeping the global cruise ship operator afloat.
The three-way transaction sees Genting Hong Kong’s wholly-owned subsidiary, Ocean World, acquire 207.2 new Subscription Shares in Dream Cruises for a consideration of US$247.9 million, while an entity named Darting Investment Holdings Ltd has acquired 49.3 Subscription Shares for US$59 million. Darting had previously acquired a 32.58% stake in Dream Cruises from Ocean World via a series of transactions in 2019 and 2020.
The issue of new shares will see Ocean World’s interest in Dream Cruises increase from 67.42% to 69.97% while Darting’s will fall from 32.58% to 30.03%.
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