Star Cruises announced that at a special general meeting today, it shareholders voted unanimously to approve a deal for private equity firm Apollo Management to make a $1 billion investment in Norwegian Cruise Line in exchange for a 50% equity stake in NCL through newly issued shares. Star will continue to hold the remaining 50% of NCL shares. Apollo will control the majority of seats on NCL’s board of directors.
Click here for a press release from Star Cruises.
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