Windstar sold by Carnival Corp.

Windstar Cruises, one of our personal favorite cruise lines around here, is being sold by Carnival Corp. to Ambassadors International, the company that runs the Majestic America river cruise company. Pending regulatory approval, the sale will be complete quickly, by April.

Carnival's CEO Micky Arison explained that the company has had long-standing plans to exit the niche cruise market, and this divestiture fits with their strategy. Ambassadors, meantime, says they plan to maintain the unique, relaxed luxury of the Windstar experience.

Windstar's fleet includes three computerized sailing ships, two 150-passenger vessels and one accommodating 300. The deal was for $100 million, comprised of $19 million cash, $60 million financed, and $21 million of assumed debt.

Did we mention that we love Windstar? So listen here, Ambassadors, you better not mess up a good thing... we're keeping an eye on you!

Read more...