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Holland America to Be Sold

November 25, 1988|United Press International

MIAMI — Carnival Cruise Lines has reached an agreement in principle to buy Holland America Line's travel and tourism operations for $625 million, it was announced today.

The purchase includes all Holland America cruise operations, Westours, Westmark Hotels and Windstar Sail Cruises, said a joint announcement by Mickey Arison, president of Carnival, and Nico van der Vorm, chairman of Holland America Line. Closing of the proposed transaction is expected by Jan. 15 after the signing of definitive agreements, expiration of a federally mandated waiting period, approval of both companies' board of directors and of the shareholders of Holland America Line's parent.

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