Big news here on a Friday….
Malaysian hospitality magnet Genting Group has agreed to sell off its 11.1% shares of Norwegian Cruise Lines (Star NCLC) for $543.6 million. They have been slowly divesting themselves of NCL/Star since August and stand to make around $24.4 million since they originally bought it in 2000. The trading of Genting halted mid week and no one knew why; now we know.
This had zero effect on the cruiser, but shows that NCLH is now able to stand on it’s own since going public.