Major cruise line stocks surged Monday as traders circulated reports of acquisition
interest by China’s HNA Group, which has already dipped its toes in the domestic cruise scene with Henna.
Rumors bolstered Royal Caribbean Cruises Ltd (NYSE: RCL) 2.6 percent, Norwegian Cruise Line Holdings Ltd (NASDAQ:
NCLH) 2.3 percent and Carnival Corp (NYSE:
CCL) 1.2 percent.
Over the last few months, HNA Group has engaged in numerous M&A transactions in the travel space, with the firm taking a
16.8-percent stake in Dufry and an unknown stake in Rio De Janeiro’s airport last week. HNA Group also boasts stakes in Hilton
Hotels, as well as Chinese and Singaporean airlines and airports.
A move in the cruise space would well complement the travel-heavy portfolio. The three potential targets dominate the global cruise market, with Carnival controlling
42.1 percent; Royal Caribbean, 22.8 percent; and Norwegian, 9 percent.
Related Links:
Carnival
To Benefit From Recovery In Cruise Demand; Argus Upgrades
Turning Your Vacation
Into A Stock Portfolio
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.