News & Announcements

Weil Advises TPG and Ontario Teachers’ Pension Plan in the Acquisition of Up to 35% of Dream Cruises

Weil is advising TPG Capital Asia, TPG Growth and Ontario Teachers Pension Plan Board in their acquisition of up to 35% of Dream Cruises. Dream Cruises is a leading cruise brand based in Asia and is owned by Genting Hong Kong Limited. The consideration for the 35% equity interest is $489 million, valuing Dream Cruises total equity at $1.397 billion. With assumption of net debt of $1.871 billion, the enterprise value of the transaction is $3.268 billion. The transaction includes options for two additional Global Class ships to be constructed by MV Werften, Genting Hong Kongs German shipyard. The transaction will be executed in two tranches, and is subject to PRC and EU antitrust clearances, as well as other customary closing conditions.   

The Weil team is led by Hong Kong Private Equity partner Tim Gardner and Private Equity counsel Sandy Lin and includes Private Equity associatesAndrew Kao and Hongzhen HuangThe team also includes Corporate partner Henry Ong; Corporate associates James Feng and Shauna Loo; Banking & Finance associates Kevin YaoRick Wei and Carolyn Ho; Tax partners Kimberly Blanchard and Robert FrastaiTax associate Mor Agam; Technology & IP Transactions/Privacy associate Catherine Kim; Executive Compensation & Benefits partner Amy Rubin; Executive Compensation & Benefits associate Jennifer Britz; Antitrust counsel Vadim Brusser; Private Funds partners Jonathon Soler and Cassie Kimmelman; and Private Funds associates Oliver Prakash-Jenkins and Carlin O’Donnell.