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.
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.
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.