This may just have something to do with Apollo's planned IPO, to shore
up the bottom line:
Apollo Management Files for Public Offering
Published on: April 11, 2008 --
Apollo Management, the company that owns part or all of several cruise
lines, is planning an initial public offering. The company plans to
offer almost 30 million shares, valued at about $417.5 million,
according to a report by Reuters. Apollo's stock is trading at about
$14 in a private Goldman Sachs exchange, down from $24 a share last
August, Reuters reported. The move comes during a credit crunch, which
has hindered the success of IPOs in recent months. Apollo owns
Prestige Cruise Holdings, which in turn owns Oceania Cruises and
Regent Seven Seas. It also owns half of NCL Corp. |