TPG and Ontario Teachers’ Acquire Minority Stake in Dream Cruises
Posted On: 06 Aug 2019 | Source: Ontario Teachers’ Pension Plan
Canadian pension fund Ontario Teachers’ Pension Plan and global alternative asset manager TPG Capital have agreed to acquire a 35 percent stake in Dream Cruises, a Hong Kong-based cruise operator, from holding company Genting Hong Kong (GHK) for USD489 million. The company will use the funds and partnership to upgrade its fleet and improve its customer service. The transaction, which will be completed in two tranches, is subject to closing conditions and regulatory approval.