Genting Hong Kong to offer European river cruises

KUALA LUMPUR: Genting Hong Kong Ltd, which recently completed its purchase of Los Angeles-based Crystal Cruises for US$550mil (RM2.2bil), will launch European river cruises in March 2017 under the cruise line, according to US news reports. 

The river ships, designed to resemble yachts, will have 70 suites each, USA Today and Miami Herald reported.

Last month, Crystal Cruises, which had two ships at the time of purchase, announced a three-year expansion plan which includes adding a 3,000-tonnage yacht (for delivery in November), six-star river cruises (2017), a Boeing 787 Dreamliner for around-the-world trips (2017) and three ocean vessels that can accommodate 1,000 guests each (late 2018).

In another development, Genting Hong Kong, listed on the Hong Kong Stock Exchange and the Singapore Exchange, announced a trading halt on Tuesday pending an announcement on a notifiable transaction.

At an EGM last month, Genting Malaysia Bhd’s non-interested shareholders representing 75.84% of voting shares approved its indirect unit Resorts World Ltd’s proposed disposal of its 17.81% stake in Genting Hong Kong for a minimum price of US$472.2mil (RM1.89bil). 

The proposed disposal will be made within a year from the date of approval of shareholders, to a party yet to be determined.

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