Genting Hong Kong in Secondary Offering of Norwegian Cruise Line Shares

Cleary Gottlieb represented Genting Hong Kong Limited and its wholly-owned subsidiary Star NCLC Holdings, as selling shareholder, in a registered secondary offering of ordinary shares of Norwegian Cruise Line Holdings. Prior to the offering, Genting HK/Star held approximately 37.5% of the outstanding ordinary shares of NCL. Star sold 12.65 million ordinary shares (including 1.65 million ordinary shares sold by Star pursuant to the full exercise of the underwriters’ option to purchase additional shares) in this offering at a public offering price of $33.25 per share for net proceeds to Genting HK/Star of approximately $406.9 million. Following the completion of this offering, Genting HK/Star continue to hold approximately 31.4% of the outstanding ordinary shares of NCL. Other selling shareholders included affiliates of Apollo Global Management and TPG Global. The offering priced on December 3 and closed on December 9. The underwriters exercised their option to purchase additional shares in full on December 26 and the sale of the option shares closed on December 31.

Genting HK was founded in 1993 and through its subsidiary, Star Cruises Asia Holding, operates a leading cruise line in the Asia-Pacific region. Its headquarters are located in Hong Kong and it is represented in more than 20 locations worldwide, with offices and representatives in Asia, Australia, Europe, the United Arab Emirates and the United States. Star Cruises currently has a fleet of six ships, which offer various cruise itineraries in the Asia-Pacific region.