Norwegian Cruise Line Holdings has agreed to purchase privately held Prestige Cruises International for $3.03 billion in the hopes of becoming the next big name in luxury ocean cruises.
Private equity firm Apollo Global Management LLC owns Prestige, a market leader in upscale cruises and parent company of Oceania Cruises and Regent Seven Seas Cruises. Apollo created Prestige in 2007 to hold its luxury cruise investments. Apollo also owns a 20 percent stake in Norwegian.
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