Xanterra Parks & Resorts, a unit of Anschutz Corp., completed its acquisition of assets held by Ambassadors International, including Windstar Cruises.
A statement from Windstar on May 27 said the purchase had been finalized May 25. Windstar was Ambassadors' principal operating unit.
Xanterra filed a $39 million surprise bid for the assets earlier this month in the U.S. Bankruptcy Court in Delaware.
Ambassadors on April 1 had filed a petition with the court for Chapter 11 bankruptcy protection. At the time it planned to sell its assets to Whippoorwill Associates, its largest creditor.
Seattle-based Windstar, operator of three luxury ships, said all published 2011 and 2012 voyages will go forward, as will charter contracts.
"The first order of business for Windstar Cruises is that it is full sail ahead,” said Andrew Todd, CEO of Xanterra Parks & Resorts. "Going forward, we intend to maintain Windstar's business and operations and invest in Windstar's growth for the long term."
A Windstar spokeswoman said the sale of assets to Xanterra included the Delta Queen and Columbia Queen riverboats, which had been operated by Ambassadors under its defunct Majestic America Line.
Xanterra is based in Greenwood Village, Colo.