Genting Strikes $960M Cruise Ship Deal With German Builder

Law360, New York (October 8, 2013, 1:42 PM EDT) -- The Chinese subsidiary of Malaysian conglomerate Genting Group has agreed to a €707.2 million ($960.7 million) services contract with a German shipbuilder for a massive cruise ship to meet growing Asian demand, the Genting subsidiary said in a stock exchange filing Tuesday.

Genting Hong Kong Ltd. signed the contract Monday with Meyer Werft GMBH for a 1,682-passenger cruise ship to be delivered in October 2016. The deal, which is subject to shareholder and regulatory approvals, has an expected effective date of Jan. 14, 2014.

"The contract...
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