Carnival Corporation & plc has signed an agreement to sell its Windstar Cruises brand to Ambassadors International Inc. Under the terms of the agreement, Windstar will be sold for $100m, $40m of which is payable in cash and assumption of liabilities, and Carnival will provide mortgage financing for $60m. The loan will be payable over 10 years at 7% interest, collateralised by the three Windstar ships.
Commenting on the news Carnival chief Micky Arison said: ‘Windstar is an outstanding and unique cruise product and has garnered an extremely loyal following, however, Carnival Corp’s growth strategy is focused on expanding our core growth brands and opening new markets.’
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