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Windstar Cruises, operates three ships - the 312-passenger Wind Surf and the 148-passenger Wind Star and Wind Spirit and is a wholly owned subsidiary of Holland America Line, a unit of Carnival Corporation.
Carnival CEO Mickey Arison said “We made the decision to exit from the niche cruise business some time ago and the sale of Windstar is in line with that strategy.
“Last year we made a decision to cease operation of UK’s Swan Hellenic and transfer its one ship to the Princess Cruises brand. Both of these are excellent products but simply do not fit into our future growth plans.”
The terms of the deal see US $40milion payable in cash and assumption of liabilities, with Carnival providing mortgage financing for $60million. The loan will be payable over 10 years at 7% interest, collateralized by the three Windstar ships.
Windstar Cruises’ ships include the 312-passenger Wind Surf and the 148-passenger Wind Star and Wind Spirit. Carnival’s Holland America Line will continue to operate Windstar through a short-term transitional services agreement.
Ambassadors is a cruise, marine, and travel and event company. The
cruise group operates river and coastal cruising specialist Majestic
America Line.