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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.