Cruiseline Regent Seven Seas Cruises has been acquired by Apollo Management from Carlson in a deal which will be completed in the first quarter of 2008.

Regent Seven Seas Cruises will continue to operate as an independent brand but will be placed under the ownership of Prestige Cruise Holdings along with Oceania Cruises – which is part of the Apollo’s portfolio.

The cruise line will also remain in its Fort Lauderdale office and be over seen by president Mark Conroy.  Oceania Cruises will still operate out of Miami under the management of president Bob Pinder. Both will now report in to Prestige Cruise Holdings chairman Frank Del Rio.

The transaction is part of a plan with Apollo and Carlson to both expand on their core cruise and hotel brands. Carlson will retain ownership of the Regent brand, along with the worldwide Regent Hotels and Resorts.

Regent Seven Seas Cruises president Mark Conroy said: “Everyone at Regent Seven Seas Cruises is delighted with the formation of this new family of companies. With the tremendous financial resources of Apollo available to us, Regent Seven Seas Cruises will continue to strengthen our position as the leading luxury cruise brand. We look forward to continued success and the use of the new financial resources available to accelerate our future growth.”