Just read a news flash on the internet saying this.

Found this on the Oceania site after some digging.


APOLLO MANAGEMENT L.P. MAKES STRATEGIC INVESTMENT IN OCEANIA CRUISES
Oceania Cruises to Remain an Independent Brand
MIAMI, FL, February 26, 2007 – Oceania Cruises, Inc. and Apollo Management L.P. (“Apollo”) announced today that Apollo has forged a strategic partnership with Oceania Cruises. The transaction, valued at approximately $850 million dollars including the assumption of debt, is expected to be completed in the second quarter and is subject to normal conditions for a transaction of this type, including regulatory approval. Lehman Brothers Inc. and UBS Securities acted as financial advisors to Oceania Cruises on the transaction.

Oceania Cruises will remain a wholly independent brand, operating with the support of Apollo’s $12 billion private equity fund. Oceania Cruises’ founding management team, including Chairman and CEO Frank Del Rio, along with a syndicate of the line’s founding investors, remain stake holders in the new venture and are committed to the line’s continued growth and success.

“Apollo is one of the most dynamic, innovative and successful private equity firms in the world and everyone at Oceania Cruises is delighted to join the Apollo family. With the tremendous financial resources of Apollo available to us, Oceania Cruises will continue to prosper, further strengthen our upper-premium brand positioning, enhance our award-winning onboard product, and be better positioned for additional growth,” stated Frank Del Rio, Chairman and CEO of Oceania Cruises.

“Frank Del Rio has built a world-class cruise company in just a few short years, and we are delighted to have the opportunity to forge this strategic partnership with him and the highly talented management team at Oceania Cruises. We look forward to supporting the company’s growth and success,” stated Steve Martinez, a partner with Apollo Management L.P.

About Apollo Management L.P.
Apollo, founded in 1990, is a recognized leader in private equity, debt and capital markets investing. Since its inception, Apollo has invested more than $16 billion through six funds. Based in New York with offices in Los Angeles and London, Apollo is currently investing in its sixth private equity fund, Apollo Investment Fund VI, L.P., which along with related co-investment entities, represents approximately $12 billion of new capital. Apollo’s investments have included some of the best known brands such as Wyndham International, Saks Incorporated, Vail Resorts, Miraval, Sirius Satellite Radio, RockResorts, Berlitz, Harrah’s Entertainment (pending), AMC Entertainment, GNC, Linens ‘N’ Things, and Sotheby’s International Realty (pending).

About Oceania Cruises
Oceania Cruises® is the world’s only upper-premium cruise line. Featuring a fleet of intimate and luxurious 684-guest ships, Regatta, Insignia and Nautica, Oceania Cruises sails to the most alluring ports in Europe, China and the Far East, Australia, New Zealand, South America, Central America and the Caribbean. In 2007, Oceania Cruises will sail to more than 170 ports around the globe. In 2008, the line will sail to Australia and New Zealand for the first time, presenting an even wider array of intriguing destinations.

Combining the finest cuisine at sea, exceptional personalized service, luxurious accommodations and extraordinary value, Oceania Cruises is setting a new, worldwide standard for luxury cruising. For additional information, to make a reservation, or to order a brochure, please contact your Travel Agent or Oceania Cruises at 800-531-5658. Visit us at OceaniaCruises.com.

SOURCE:
Oceania Cruises, Inc.