Genting Hong Kong said it exercised an option that will allow it to acquire the 30% of German shipyard Lloyd Werft that it doesn’t already own.

Genting notified its partners on Dec. 31 that it will exercise the option, according to a regulatory filing. The option gives Genting the right to buy the 30% stake for about $17.9 million.

Lloyd Werft is building three 1,000-passenger ships for Crystal Cruises, the luxury cruise line that Genting acquired last year for $550 million. It later acquired a 70% stake in Lloyd Werft from its German owners.


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