London – LAWFUEL – Law Firm Newswire – Allen & Overy LLP has today announced that it is advising Carlson Companies Inc. on the agreed disposal of its luxury Regent Seven Seas Cruises business to Apollo Management LP. It is also advising both Carlson and Vlasov Shipping Corporation on the simultaneous sale to Apollo of the jointly owned luxury cruise ships, the m/s Seven Seas Voyager, the m/s Seven Seas Navigator and the m/s Seven Seas Mariner. The disposal is expected to be completed in the first quarter of 2008.
The transaction is part of a unified strategy undertaken by Apollo and Carlson to expand their respective core cruise and hotel operations. Regent Seven Seas Cruises, the world’s largest, most successful luxury cruise brand, will continue as a key part of the Carlson owned Regent brand and together with Oceania Cruises will be placed under the ownership of Prestige Cruise Holdings, Inc., a corporation controlled by Apollo..
The multi-jurisdictional Allen & Overy team is being led by London-based corporate partner Alistair Asher, assisted by Brendan Hannigan, James Mills, Richard Evans, Mark Davis and Justin Pavry. Structured and asset finance partner Graham Smith, assisted by Dylan Potter, is advising on the complex vessel financing aspects of the transaction. Private equity partner Derek Baird, anti trust partner Alistair Lindsay, IP partner Colin Pearson assisted by Kirralee Sanders and Nigel Parker, tax partner Miles Walton, assisted by James Burton and Brin Mazen are also advising on the transaction.
New York-based corporate partners Michael Gilligan and Henry Morgenbesser assisted by Corey Ellen Fulton and Christina Lee are advising on the US aspects of the transaction.
Commenting, Alistair Asher said: “This strategic transaction will enable Carlson to continue expanding and strengthening its leading luxury Regent brand. We look forward to continuing to work with both Carlson and Vlasov in the future ”
For further information, please contact Karen Levin ([email protected]) on +44 (0)20 3088 4341.