Genting Hong Kong said it has completed the $550 million acquisition of Crystal Cruises from longtime Japanese owner NYK.

With the acquisition, Genting executive chairman Tan Sri Lim Kok Thay becomes chairman of Crystal. He had previously been chairman of Norwegian Cruise Line Holdings until stepping down from that job earlier this year. 

Also, two executives at Crystal were promoted. Edie Rodriguez, who had been president and chief operating officer, becomes president and CEO. Thomas Mazloum, former executive vice president, becomes chief operating officer.

Crystal operates two luxury ships and is building a third for delivery in 2018.

Genting Hong Kong also owns Star Cruises and remains a major shareholder of Norwegian Cruise Line Holdings, with a 22% stake. 

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