Whippoorwill to Acquire Windstar Cruises
April 7, 2011- Share:
Whippoorwill Associates has agreed to acquire Windstar Cruises and other assets from cruise company Ambassadors International (NASDAQ: AMIE). Ambassadors has filed for Chapter 11 bankruptcy to facilitate the transaction. Whippoorwill is additionally providing $10 million of DIP financing. Ambassadors is being advised legally by Stroock & Stroock & Lavan and financially by Imperial Capital, while Gibson, Dunn & Crutcher is serving as legal counsel to Whippoorwill.
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