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Ambassadors International, Inc. Enters Into Agreement to Sell Marine Business; Soliciting Competing Proposals.

Publication: PR Newswire
Publication Date: 05-MAY-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
SEATTLE, May 5 /PRNewswire-FirstCall/ -- Ambassadors International, Inc. (the "Company") announced today 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...

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