Genting Hong Kong, the parent company of Crystal Cruises, a leading cruise and hotel company, has reached an agreement to acquire the Lloyd Werft shipyard, located in Bremerhaven, Germany. The agreement stipulates that the cruise line will invest €17.5 million for a 70% stake in the new shipbuilding company and a 50% stake in the shipyard's land. Under the terms of the agreement, Genting Hong Kong will complete the acquisition of Lloyd Werft subject to the fulfillment of certain final purchase conditions.
“Lloyd Werft has built and lengthened six of the ships owned by a subsidiary of the company and has the expertise to build a series of world-class cruise ships for the company, including the ships in Crystal Cruises’ ‘exclusive class,’ the most awarded luxury cruise line,” said Tan Sri Lim Kok Thay, Chairman and CEO of Genting Hong Kong. “Owning Lloyd Werft will allow Genting Hong Kong to leverage the shipyard’s technical expertise and its long and well-established track record in the shipbuilding industry.”.
On July 19, Crystal Cruises announced its plan for the expansion of the most important brand in the history of luxury travel, with the introduction of Crystal Yacht Cruises (December 2015), Crystal River Cruises (2017), Crystal Exclusive class cruises (late 2018) and Crystal Luxury in the Air (2017).
“With so much anticipation surrounding the new Crystal River Cruises and Crystal Exclusive ocean-going vessels, we are very excited about this innovative investment by Genting in the Lloyd Werft shipyards, which will powerfully contribute to the expansion of Crystal Cruises,” said Edie Rodriguez, Crystal’s president and CEO.
Genting Hong Kong signed a letter of intent earlier this year with Lloyd Werft to build the Crystal Exclusive class of exclusive polar vessels. In addition to luxury suites for travelers, the Crystal Residences will be launched, featuring 48 private homes with all the signature amenities of a luxury ship or yacht. Lloyd Werft will also build the collection of luxury river yachts, boasting large suites, spacious public areas, and innovative itineraries and activities in destinations throughout France, Germany, Switzerland, the Netherlands, Belgium, Austria, Slovakia, Hungary, Croatia, Serbia, Romania, and Bulgaria.
For more information about Genting Hong Kong, please visit www.gentinghk.com.
