Genting has laid the groundwork for a potential disposal of its full $1.88bn stake in Norwegian Cruise Line (NCL).
Shareholders of the Malaysian conglomerate’s Genting Hong Kong spin-off approved the disposal of up to 56.8 million shares in the New York-listed cruiseship owner, UBS analyst Robin Farley said this week.
The Hong Kong-listed outfit is the largest shareholder in NCL, and further sales of its stake in the company raises the prospect of similar share offerings by Apollo Global Management, the US private-equity giant that owns the second largest amount of the Miami-based cruise line.
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