Abercrombie & Kent founder Geoffrey Kent has struck a partnership with Manfredi Lefebvre d’Ovidio, govt chairman of Silversea Cruises, to accumulate 100 per cent of the corporate.
Below the phrases of the deal d’Ovidio, who can be chairman of Heritage Group, will turn into chairman of Abercrombie & Kent Holding, whereas Kent himself will proceed as chairman and chief govt.
Heritage Group will personal 85 per cent of Abercrombie & Kent, whereas Kent will personal the remaining 15 per cent.
The corporate was beforehand majority owned by Chinese language agency Zhonghong Holdings Group.
Over the previous twenty years, d’Ovidio has constructed Silversea Cruises, created by his father in 1994 with the acquisition of two ships (Silver Cloud and Silver Wind), into a number one line.
Royal Caribbean Group just lately acquired a 66 per cent stake in Silversea.
Nevertheless, the Abercrombie & Kent funding by Heritage Group is a separate and distinctive, led by d’Ovidio, and doesn’t contain Silversea.
Kent and d’Ovidio have identified one another for greater than twenty years and have additionally been enterprise companions, having acquired the MV Explorer in 1992.
“Abercrombie & Kent is the best luxurious journey firm on the earth, and I’m honoured to have the ability to associate with Geoffrey Kent to assist this outstanding firm proceed its file progress,” mentioned d’Ovidio.
The closing is predicted to be accomplished later within the 12 months, topic to customary closing situations and regulatory approvals.
Barclays Financial institution served as monetary advisor to Heritage group.
Kent added: “I’m very excited to be working with Manfredi.
“I can not consider a greater or extra skilled associate for the following section of A&Ok’s progress.”