Key Developments For Ambassadors International Inc
Ambassadors International Inc (AMIE.O) (Consolidated Issue listed on NASDAQ Global Market)
Ambassadors International, Inc. Appoints Eugene I. Davis As Chairman
Ambassadors International, Inc. announced that the Board of Directors welcome Eugene I. Davis, Stephen P. McCall and John Bianco as members of its Board of Directors. Mr. Davis will serve as Chairman of the Board.
Ambassadors International, Inc. Enters Into Definitive Agreement With Blue Spruce LLC
Ambassadors International, Inc. announced that it has signed a definitive agreement to sell Queen of the West to Blue Spruce LLC, an affiliate of American Cruise Lines. Ambassadors has also completed sales of the Housing portion of its Travel and Events division and its Marine Group earlier this year and recently entered into a definitive agreement to dispose of Ambassadors' Cypress Reinsurance business.
Ambassadors International, Inc. Enters Into Agreement To Sell Marine Business
Ambassadors International, Inc. announced that it has entered into an agreement to sell Ambassadors Marine Group, LLC (AMG), which holds all assets related to the Company's marine business, to Bellwether Financial Group, Inc., a company affiliated with its former Chief Executive Officer, Joseph Ueberroth. As previously announced, the Company has decided to sell all non-Windstar Cruises assets. In April, the Company announced the sale of its travel & events business. Arthur Rodney, Chairman of the Board of Directors, stated that the board and management are pleased with this purchase agreement. With this transaction and the sale of the travel & events business, so that the Company can focus all of our capital and efforts on Windstar Cruises and the small ship luxury segment. Pursuant to the terms of the purchase agreement, the Company retains the right to solicit superior proposals to acquire AMG until May 22, 2009. Proposals may be submitted to the Company's investment banker, Stephens, Inc. The terms of the transaction were not disclosed.
Ambassadors International, Inc. Announces Sale Of Travel & Events Division To Lakeview Equity Partners
Ambassadors International, Inc. announced the sale of its travel and events division to Lakeview Equity Partners, LLC, a Milwaukee-based private equity fund, effective April 16. As previously announced, the Company has decided to sell all non-Windstar Cruises assets and expects to announce additional transactions in the near future.
Ambassadors International, Inc. Announces Resignation Of Joseph J. Ueberroth As President And Chief Executive Officer
Ambassadors International, Inc. announced that Joseph J. Ueberroth, President and Chief Executive Officer and a member of the Board of Directors, has resigned as the Company's President and Chief Executive Officer effective April 1, 2009 to pursue other ventures.
