Two strategic investors that have steered Norwegian Cruise
Line Holdings for more than a decade will no longer own any stock in the
company following a Dec. 3 stock offering.
Norwegian said in a filing that Apollo Management Holdings
and Star NCLC are selling their remaining stakes in a secondary offering.
Together, the two companies will receive $962.7 million by
selling a combined 18.8 million shares. Norwegian Cruise Line Holdings said it
will acquire about $85 million worth of the shares as part of an ongoing stock
Star, controlled by Genting HK, dates its ownership stake to
2000, when it acquired Norwegian Cruise Line. In 2007, Star sold a 50% stake to
private equity firm Apollo Management and various affiliates.
The two have been whittling down their stakes since 2013.
Currently, Apollo is the third-largest stockholder with a 7.1% stake, coming
after T. Rowe Price Associates' 10.9% and Vanguard Group's 8%, as listed in a June
12 proxy statement.
Star NCLC, with 1.7% of the stock, is the fifth-largest
shareholder after Capital International Investors, another mutual fund company.
Norwegian Cruise Line Holdings has about 221.6 million