TPG and Ontario Teachers’ Pension Plan’s Acquisition Of 35% Of Dream Cruises


Weil advised 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 Kong’s 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 was led by Hong Kong Private Equity partner Tim Gardner (Picture) and counsel Sandy Lin and includes associates Kris Desrosiers, Jeremiah Phillips, Andrew Kao and Hongzhen Huang; Corporate partner Henry Ong and associates James Feng and Shauna Loo; Banking & Finance partner Soo-Jin Shim and associates Kevin Yao, Rick Wei and Carolyn Ho; Tax partners Kimberly Blanchard and Robert Frastai and associate Mor Agam; Technology & IP Transactions counsel Caroline Geiger and associate Catherine Kim; Executive Compensation & Benefits partner Amy Rubin and associate Jennifer Britz; Antitrust counsel Vadim Brusser; Corporate associate Aurel Hille; and Private Funds partners Jonathon Soler and Cassie Kimmelman and associates Oliver Prakash-Jenkins and Carlin O’Donnell.

Involved fees earner: James Feng – Slaughter and May; Mor Agam – Weil, Gotshal & Manges; Kimberly Blanchard – Weil, Gotshal & Manges; Jennifer Britz – Weil, Gotshal & Manges; Vadim Brusser – Weil, Gotshal & Manges; Kris Desrosiers – Weil, Gotshal & Manges; Robert Frastai – Weil, Gotshal & Manges; Tim Gardner – Weil, Gotshal & Manges; Caroline Geiger – Weil, Gotshal & Manges; Aurel Hille – Weil, Gotshal & Manges; Carolyn Ho – Weil, Gotshal & Manges; Hongzhen Huang – Weil, Gotshal & Manges; Andrew Kao – Weil, Gotshal & Manges; Catherine Kim – Weil, Gotshal & Manges; Cassie Kimmelman – Weil, Gotshal & Manges; Sandy Lin – Weil, Gotshal & Manges; Shauna Loo – Weil, Gotshal & Manges; Henry Ong – Weil, Gotshal & Manges; Carlin O’Donnell – Weil, Gotshal & Manges; Jeremiah Phillips – Weil, Gotshal & Manges; Oliver Prakash-Jenkins – Weil, Gotshal & Manges; Amy Rubin – Weil, Gotshal & Manges; Soo-Jin Shim – Weil, Gotshal & Manges; Jonathon Soler – Weil, Gotshal & Manges; Rick Wei – Weil, Gotshal & Manges; Kevin Yao – Weil, Gotshal & Manges;

Law Firms: Slaughter and May; Weil, Gotshal & Manges;

Clients: Ontario Teachers’ Pension Plan Board; TPG Capital; TPG Growth;