Diversify its activities
Artemis, the holding company of French billionaire François Pinault, is in advanced negotiations with investment fund Bridgepoint to buy luxury cruise line Ponant. This source comes from two people close to the matter, who wished to remain anonymous, reports Bloomberg. These private and exclusive negotiations would concern a 400 million euro buyout. An agreement could be announced by the end of the month.
This acquisition would allow the Pinault family to diversify its activities and enter the world of cruising yachting. As a reminder, the holding company is a shareholder of Kering (formerly PPR), one of the world's leading clothing and accessories companies in the luxury, sports and lifestyle sectors. It also owns the auction house Christie's and the vineyard Château Latour.
A luxury cruise line on a human scale
Founded in 1988, Ponant operates a fleet of yachts that carried 23,000 passengers last year. This French exploration ship owner is a reference in polar cruises. Specialized in luxury, it offers 5* hotel services on board luxurious ships, on a human scale. The cruise operator has a fleet of 5 ships âeuros a 3 masted sailboat of 32 cabins and 4 yachts of 122 to 132 cabins.
Ponant was awarded the prize for best cruise line last June by Quotidien du Tourisme and BFM Business. 36,000 travel professionals who subscribe to the magazine were able to vote for this award.
Bridgepoint acquired Ponant Cruises from French shipping group CMA-CGM in 2012 for an undisclosed amount. The cruise line announced on its website last year a turnover of 120 million euros.
