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Antigua and Barbuda to auction off $81m yacht ‘owned by Russian oligarch’
Andrey Guryev, who has been put under UK government sanctions, claims he is not owner of Alfa Nero
An $81m (£67m) superyacht said to be owned by the sanctioned Russian oligarch Andrey Guryev is to be auctioned off by the government of Antigua and Barbuda , which claims the vessel has been abandoned in the Caribbean since Russia’s invasion of Ukraine last year.
The government of Antigua and Barbuda on Monday warned the owner of the Alfa Nero superyacht that they had 10 days to claim the vessel or it would be sold to the highest bidder.
The information minister, Melford Nicholas, said Alfa Nero had been abandoned in Falmouth harbour in Antigua since February 2022 and the government was “trying to prevent a future hazard since the luxury vessel is not being maintained by its owner”.
In a statement the office of the prime minister of Antigua and Barbuda said: “A notice to the newspapers and other media will be published for a period of 10 days, notifying the sale of the Alfa Nero vessel in order to satisfy the requirements under the law for a forced sale. If the owner fails to claim the vessel within that time period, the government of Antigua and Barbuda will sell it to the highest bidder.”
Guryev, 62, who made a $10bn fortune from the Russian fertiliser company PhosAgro, is the owner of Alfa Nero according to the US government, which imposed sanctions on him last year. The US Treasury’s Office of Foreign Assets Control (OFAC) said it had “identified Alfa Nero, a Cayman islands flagged yacht that AG Guryev reportedly bought for $120m in 2014, as blocked property of AG Guryev”.
The yacht, which features a 12-metre infinity pool, a Jacuzzi, a spa, a beauty room and a helipad, has been used by Guryev’s family, including his son (also Andrey) and his son’s wife, Valeria, who studied at the London College of Fashion and once reportedly stated on Instagram that she was “too pretty for work”. Like many yachts, it is owned via an opaque offshore structure, and Guryev has denied being the owner.
Guryev, who was subjected to UK government sanctions in April 2022 , is also, according to the OFAC, the owner of London’s largest private residence: the 25-bedroom £50m Highgate mansion Witanhurst.
The property is officially owned via Boradge Ltd, a company incorporated in the British Virgin Islands. Guryev’s London-based lawyers have said “Mr Guryev does not own Witanhurst”, without providing further details. Guryev’s spokesperson has previously told the New Yorker that he was a beneficiary of a trust owning the property but not the legal owner.
Last year Gibraltar auctioned off the £65m superyacht Axioma owned by the sanctioned steel billionaire Dmitry Pumpyansky. The sale of Axioma attracted controversy because it is being sold not for the benefit of the Ukrainian people but for a US investment bank, JP Morgan, which claims Pumpyansky owes it more than €20.5m (£17m).
Pumpyansky was until March of 2022 the owner and chairman of the steel pipe manufacturer OAO TMK, a supplier to the Russian state-owned energy company Gazprom. The UK said the billionaire, who it said had built up an estimated £1.84bn fortune, was one of the oligarchs “closest to Putin” .
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This Abandoned 267-Foot Superyacht Has Links to a Russian Oligarch. Now It’s Heading to Auction.
Alfa nero will be sold to the highest bidder if it remains unclaimed., rachel cormack.
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“A notice to the newspapers and other media will be published for a period of 10 days, notifying the sale of the Alfa Nero vessel in order to satisfy the requirements under the law for a forced sale,” a statement from the Office of the Prime Minister of Antigua and Barbuda read. “If the owner fails to claim the vessel within that time period, the Government of Antigua and Barbuda will sell it to the highest bidder.”
Delivered in 2007 by Oceanco, Alfa Nero features a striking exterior by Nuvolari Lenard and interior styling by Alberto Pinto that together have landed the yacht a number of awards. The beautiful behemoth notably features six staterooms, accommodation for 28 crew, a hydraulically operated pool and a large helipad aft. Alfa Nero was sold in 2011 to its current owner with an asking price of $115 million, according to Marine Industry News . The Guardian has previously reported that the yacht is linked to the Russian oligarch (and Putin ally) Andrey Guryev.
The Antigua and Barbuda government reportedly consulted with the US authorities prior to taking the action. During a media briefing, Information Minister Melford Nicholas told reporters that any proceeds from the sale of Alfa Nero would remain in the Antiguan government’s hands, but the US could request access to the funds in the future.
Rachel Cormack is a digital editor at Robb Report. She cut her teeth writing for HuffPost, Concrete Playground, and several other online publications in Australia, before moving to New York at the…
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Supposed Owners Of Abandoned Superyacht Want Their Big Boat Back
Oligarch's daughter wants the alfa nero back, despite the deal to sell the boat being done and dusted..
When the 265-foot Alfa Nero finally sold for $67.6 million at action this past June , we figured that was it; the orphaned superyacht had finally found a home. Unfortunately for the government of Antigua and Barbuda, however, that is not the case.
We’ve been following the fate of the Alfa Nero since officials first began seizing Russian oligarch-owned superyachts at the start of the Russian invasion of Ukraine. Russia received strict sanctions from the international community for its act of aggression against the country. This resulted in Russia’s monied class losing some of their biggest and bestest toys.
Many of these superyachts are owned by shell companies owned by different shell companies in order to protect assets. When this scheme didn’t exactly work, wealthy Russians scattered with some leaving their big boats right where they were parked. The Alfa Nero — with its six staterooms, helipad and crew quarters that can squeeze in 28 personal — is one such boat. U.S. officials figured out that the Alfa Nero was likely owned by fertilizer magnate and sanctions list rockstar Andrey Guryev, the 25th richest man in Russia.
The Alfa Nero has been parked in Antigua since the start of the invasion. The small Caribbean country was paying $100,000 a month just for the general upkeep of the Nero (and that’s not counting crew costs and dock fees.) When no one came forward to claim the boat Antigua held an auction, and gave the owner of the yacht 10 days to claim their property in March. When no one came forward, the Alfa Nero was seized by April and was on the auction block by June.
The winning bid of $67.6 million came from ex-Google CEO Eric Schmidt and actually bumped up the entire nation’s GDP by four percent. As you can imagine, the country is eager to unload this boat and get the cash. Only now there is a new wrinkle, according to the Daily Beast :
“This whole damn thing has been like a Tom Clancy novel,” Darwin Telemaque, chief executive of the Antigua and Barbuda Port Authority, told the London Times last month. “And I’m stuck in the middle.” [...] But just this month, another obstacle appeared: Guryev’s daughter, Yulia Guryeva-Motlokhov, who lives in London with her hedge-fund manager husband Alexei Motlokhov. (The two recently caused a stir for trying to build a massive playground in the backyard of their $6 million, five-bedroom home, which neighbors deemed “more like a theme park.”) In an appeal filed July 12, Guryeva-Motlokhov claimed she is the sole beneficiary of the trust that owns the Flying Dutchman, and thus the rightful owner of the Alfa Nero. In her appeal, she claimed that the Antiguan government did not have the right to sell off her property and that the auction had been improperly executed, according to the Antigua Observer . Her attorney, David Dorsett, told the Observer he intends to fight for her right to the superyacht, adding: “We just want our boat back.” “We think the action of the government in taking possession of the yacht and selling the yacht is wrong on all levels,” he said. “It is not the government’s yacht; they cannot just take it up and sell it to somebody else.”
For one, I think Guryeva-Motlokhov is right; its incredibly unfair for some foreign government to waltz right in and just take someone else’s property. Perhaps she could take this philosophy up with her own government back home in Russia.
The government of Antigua and Barbuda counter filed against Guryeva-Motlokhov, saying the fertilizer magnate’s daughter has no standing to demand the Alfa Nero back. For now though, Schmidt is stuck without his big boat (well, his second big boat) and refuses to pay Antigua and Barbuda until the boat is delivered. The small country is scrambling once again to force the deal and get the Alfa Nero off their books. The whole thing is a huge mess.
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ALFA NERO Yacht – Splendid $120M Superyacht
The ALFA NERO yacht is an 82.27 meter (266.8 ft) luxury yacht first built by Oceanco in 2007.
She ranks in 121st place on the list of largest yachts in the world and was designed by Alberto Pinto and Nuvolari Lenard. She is currently available for charter for a weekly price between US $730,000 and $940,000.
ALFA NERO yacht interior
Alberto Pinto Design Studio worked on the interior of the ALFA NERO yacht. Twelve guests can be accommodated in six beautiful cabins, and a crew of 26 finds space below deck. The massive master suite even has a private terrace and spa pool.
The yacht has an onboard hair and beauty salon, a spa, a dance floor, and a gym. Her interior design is heavily influenced by pop art, which sets her apart from other charter yachts.
Her luxurious furnishings were hand-picked by her designers and let the interior space of the vessel appear inviting and open.
Specifications
The ALFA NERO yacht is 82.27 meters (266.8 ft) long with a 14.2-meter (46.7 ft) beam and a 3.9 meter (12.1 ft) draft.
She weighs 2,159 tons and can reach top speeds of 21 knots but cruises comfortably at 14 knots. She is powered by twin MTU diesel engines .
The exterior of the ALFA NERO yacht was developed by Nuvolari Lenard , an Italian yacht design studio.
She has actually won numerous awards for her exceptional exterior and continues to impress the industry despite her age.
The onboard beach club is very large considering she only has a total length of 82.27 meters (266.8 ft).
She also has an infinity pool on the aft deck that can be converted into a helicopter landing pad if required which is yet another unusual feature.
Guryev bought ALFA NERO for US $120 million in 2014 and had her refit in 2021. She has annual running costs of US $6 to 12 million.
Her weekly charter price lies between US $730,000 and 940,000, depending on the season.
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ALFA NERO YACHT CHARTER
81.27m / 266'8 oceanco 2007 / 2021.
- Previous Yacht
Cabin Configuration
Special Features:
- Iconic superyacht
- Large infinity pool transforms into a helipad
- Huge master suite with private deck & spa pool
- Beauty and hair dressing salon
- Modern interior with pop art influences
- State-of-the-art party setup
At 81.27m/266'8", iconic charter yacht Alfa Nero features a compelling line-up of living areas and modern amenities and abounds in luxury and comfort
The 81.27m/266'8" 'Alfa Nero' motor yacht built by the Dutch shipyard Oceanco is available for charter for up to 12 guests in 6 cabins. This multi-award winning yacht features interior styling by Alberto Pinto.
Built in 2007, Alfa Nero is custom-built for world-class luxury yacht chartering, offering a wealth of spacious living areas and fabulous amenities, you'll be in for a treat from the moment you step on board. Her features include a dancefloor, beauty salon, spa, elevator, beach club and gym.
Exterior Design
Alfa Nero won numerous design awards for her innovative approach to superyacht living, including her huge beach club area and swimming pool on the aft deck conceived by exterior designer Carlo Nuvolari, a design now incorporated into many subsequent yachts.
Interior Design
The interior, by Alberto Pinto, blends elegant understatement with pop art and features a staircase that wraps around a glass lift shaft.
Guest Accommodation
Alfa Nero offers guest accommodation for up to 12 guests in 6 suites comprising a master suite, two VIP cabins and three twin cabins. A crew of twenty-six, who specialize in creating exceptional charters, are on hand to provide guests with a yacht charter vacation to remember.
Onboard Comfort & Entertainment
A charter on Alfa Nero is comfortable and convenient thanks to the provided amenities, notably a dancefloor where you and your guests can celebrate in style. If you're in need of indulgence, the beauty salon offers a range of treatments to pamper and restore. Kick back and relax in the well-appointed spa plus the swimming pool is perfect for exercising or admiring a romantic sunrise. Make your day truly exceptional at the beach club and a gym with all the latest equipment is available for a good work out. Sit back with a glass of champagne in the deck jacuzzi.
Whatever your activities on your charter, you'll find some impressive features are seamlessly integrated to help you, notably an elevator, making any part of the yacht quickly and easily accessible. Whether you want to work, use social media or stream movies on board this yacht, you can with Wi-Fi connectivity plus you can stay comfortable on board whatever the weather, with air conditioning during your charter.
Performance & Range
Built with a steel hull and aluminium superstructure, she offers greater on-board space and is more stable when at anchor thanks to her full-displacement hull. Powered by twin MTU engines, she comfortably cruises at 15 knots, reaches a maximum speed of 20 knots with a range of up to 6,000 nautical miles from her 295,000 litre fuel tanks at 14 knots.
When not cruising Alfa Nero has onboard an incredible selection of water toys and accessories for you and your guests to connect with the waters around you. Take to the sea on the Jet Skis offering you power and control on the water. Guests can feel the wind in their hair and jump the waves on one of the WaveRunners. Also there are towable toys offering fun and adventure. If that isn't enough Alfa Nero also features scuba diving equipment and inflatable water toys. Alfa Nero features three tenders, but leading the pack is a 8m/26'3" Yachtwerft Meyer Limo Tender to transport you in style.
Alfa Nero and her crew are available for charter this winter for cruising within the Caribbean. She is already accepting bookings this summer for cruising in the Mediterranean.
With a highly experienced and talented crew of 26, you can be sure that each and every need will be met and exceeded while on board this prestigious motor yacht.
TESTIMONIALS
There are currently no testimonials for Alfa Nero, please provide .
Stand Out Features
Convertible infinity pool
From infinity pool and waterfall, to dancefloor, or helipad. Innovative designing at its best.
Individually styled staterooms
Every guest has a unique experience with their own styled stateroom. Each has private ensuite facilities and seating areas.
Impressive master cabin facilities
A spacious master stateroom is accompanied by a private deck with its own spa pool.
Alfa Nero Photos
Amenities & Entertainment
For your relaxation and entertainment Alfa Nero has the following facilities, for more details please speak to your yacht charter broker.
Alfa Nero is reported to be available to Charter with the following recreation facilities:
- 1 x 8m / 26'3 Yachtwerft Meyer Custom Limo Tender
- 1 x 8m / 26'3 Novurania MX 780 DL Custom Tender
- 1 x 6m / 19'8 Nautique Correct Craft Ski 196
For a full list of all available amenities & entertainment facilities, or price to hire additional equipment please contact your broker.
Alfa Nero Awards & Nominations
- The World Superyacht Awards 2008 Best Interior Design - Motor Yacht Winner
- The World Superyacht Awards 2008 Best Exterior Styling - Motor Yacht Winner
- International Superyacht Society Awards 2008 Best Power 65m+ Winner
- Asia Boating Award 2008 Most Innovative Exterior Yacht Design of the Year Winner
- ShowBoats Awards 2008 Best Motor Yacht (over 75m) Winner
- World Yachts Trophies 2008 Most Innovative Custom Motoryacht (over 40m) Winner
- Indian International Boating Award 2008 Most Innovative Interior Yacht Design Winner
- The ShowBoats Design Awards 2010 Design & Technology Award Finalist
- + shortlist
For a full list of all available amenities & entertainment facilities, or price to hire additional equipment please contact your broker.
'Alfa Nero' Charter Rates & Destinations
Summer Season
May - September
€812,000 p/week + expenses Approx $877,000
High Season
€840,000 p/week + expenses Approx $907,000
Cruising Regions
Mediterranean Croatia, France, Italy, Monaco, Montenegro, Turkey
HOT SPOTS: Amalfi Coast, Corsica, French Riviera, Ibiza, Sardinia, The Balearics
Winter Season
October - April
$728,000 p/week + expenses
$756,000 p/week + expenses
Caribbean Antigua, Bahamas, Saint Martin, St Barts
HOT SPOTS: Virgin Islands
Note: Not for charter to U.S. residents while in U.S. waters
Charter Alfa Nero
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Crew of 81m Oceanco superyacht Alfa Nero awarded unpaid wages
The crew of the abandoned 81.3-metre Oceanco motor yacht Alfa Nero will receive more than a year of unpaid wages following a ruling by a high court judge. The case against the owner was brought before the High Court of Antigua and Barbuda by Nautilus International and Captain Christopher Malcolm Lewis in September 2023.
Declared seized on 11 April 2023, the ruling concerns the wages owed to crew members originally employed on the superyacht before its abandonment and those who remained on board or were hired as part of a skeleton crew from March 2022 to April 2023.
The report by the Eastern Caribbean Supreme Court explains: "After a much-publicised arrival and subsequent abandonment by the owner of the yacht under international sanctions, the superyacht was left in the waters off Antigua and Barbuda. Its crew had been terminated in large part and the yacht was manned by a skeleton crew until the same was officially acquired by the Antigua and Barbuda Port Authority."
Flying Dutchman Overseas Ltd., the registered owner of the vessel, had not given instruction on the maintenance of the superyacht or its staff when she was seized, leading to controversy around whether Captain Lewis was acting within his jurisdiction to rehire previously dismissed crew. The judge ruled that it "was in fact a reasonable course of action".
Nautilus International, a trade union and professional organisation registered in the United Kingdom, and Captain Lewis (on behalf of crew members) filed a claim on 17 March 2023 seeking payment of the sum of €2,242,991.62, including interest at the rate of four per cent. Their argument was grounded in Section 49(1) of the 2006 Merchant Shipping Act, which asserts priority for maritime liens, including wages, over other debts.
Non-unionised crew members filed a separate claim seeking payment of €439,494.40. The combined payment sought totalled around €2.7 million.
Another point of contention arose regarding the fact that several crew members were promoted between March 2022 to April 2023 and were therefore claiming for higher rate of pay from their original contracts. The report explains: "None of these people who were promoted held their positions substantially. In other words, they all were promoted for a period of time to facilitate a senior officer taking leave".
The judge ruled that they were "temporary appointments" and that they were instead to be "paid according to the rate for which they were paid at the time of termination by Burgess ".
Further claims for travel expenses, gratuity, crew training and attorneys fees, were also rejected.
The yacht was one of the latest superyachts to be sold at auction on 16 June 2023 for $67,000,677, having been declared abandoned by the government of Antigua and Barbuda. Ever since, she has been wrapped up in litigation and former Google CEO Eric Schmidt was reported to have backed out of the deal amid "legal wrangling". The fate of Alfa Nero is now unknown.
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A look at the most expensive superyachts at the Palm Beach yacht show and their insane features, from basketball courts on deck to ice baths and saunas
- The Palm Beach International Boat Show kicks off later this week.
- Eight megayachts are expected to be on display for would-be buyers and charter customers.
- These are the show's biggest yachts — and how many millions of dollars they are going for.
The Palm Beach International Boat Show — the yacht world's flashiest event stateside — is returning this year with over 800 boats for both deep-pocketed potential owners and window shoppers to peruse.
While it's impossible to know what exactly will be on display until the show begins on Thursday, it's expected that eight megayachts — generally defined as ships over 60 meters long — will be docked at the show and at nearby marinas like the Rybovich Marina in the ritzy Florida town.
Some of these are for sale at eye-popping prices, but others are available to charter in case you fancy living like a billionaire for a week or two this summer (and if you have six figures to spare on a vacation).
These are the eight biggest yachts that will be at the Palm Beach International Boat Show and nearby marinas, in size order.
Nero: 90.1 meters
Price: From $497,000 a week (charter) Standout features: Pizza ovens, beauty salon, massage room, resistance pool
Reportedly owned by Irish billionaire Denis O'Brien, Nero is modeled after J.P. Morgan's 1930s ship , and was built in 2007 and updated in 2021.
She now boasts a gym on her sundeck with multiple cardio machines and a beauty salon, and has an on-board beautician for manicure, pedicure, hair, and massage needs. There's also an upgraded movie theater, two new pizza ovens, and both a pool and a jacuzzi.
For those who want to go overboard, she has more than a dozen toys, including a waterslide, Jet Ski, and flyboard.
Victorious: 85 meters
Price: From $876,600 a week in the summer and $950,000 a week in the winter Standout features: Hammam (Turkish bath), wine cellar, wood-burning fireplace, children's playroom
Victorious brings a party vibe to the yacht show. With a beach club on board, a wine cellar, a cigar clubroom , multiple bars, and a lounge with a piano, the vessel is made for entertaining. Plus, there's a playroom and movie theater to entertain the kids.
For tamer charter clients, Victorious has a suite of wellness features such as a gym, massage room, beauty salon and hammam — perhaps a custom request of her owner, Turkish businessman Vural Ak.
She also boasts a treasure trove of water toys, including Jet Skis, jetsurfs, inflatable kayaks, and scuba equipment.
Casino Royale: 72 meters
Price: TBD Special Features: Infinity pool, helipad, private jacuzzi
Purchased and refitted by car dealer magnate John Staluppi last year, Casino Royale is the latest of his James Bond-inspired yachts (he's also owned an Octopussy and a Skyfall, among others).
Casino Royale has a helipad that turns into a dancefloor, an infinity pool, and a wellness center with a gym and sauna. The owner's cabin has its own deck, which features a private bar and jacuzzi.
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However, the boat's price isn't listed, and while she's not necessarily officially for sale, that might change depending on who's prepared to buy, Mr. Bond.
Talisman C: 70.6 meters
Price: $60 million (or from $567,000 a week to charter) Special features: Massage and beauty room, private library
Likely the largest yacht for sale (not just charter) at the show, the Talisman C is a 2011 six-bedroom boat. The owner's cabin comes with an en suite bathroom, dressing room, private library, and crystal chandeliers.
Amenities include a gym, a beauty room, oversized jacuzzi, and a fully equipped bar. Her crew of 19 includes a trained masseuse, and the toy room comes equipped with a wakeboard, eFoil , and WaveRunners.
Joy: 70 meters
Price: From $650,000 a week Special features: Disco club, basketball court, onboard fitness instructor
Superyacht Joy testifies to the fact that owners want as many on-board experiences as they can get.
There's an expansive suite of fitness features, including a basketball court (don't shoot that hoop too hard!), a personal trainer on staff, boxing equipment, and a handful of machines. For post-workout winddowns, there's a spa with a steam room and onboard masseuse. And for entertainment, there's both an outdoor and indoor cinema, and a disco club.
Triumph: 65.4 meters
Price: From $707,600 a week in the summer and $650,000 a week in the winter Special features: Sauna, helipad, banana boat
This 2021 superyacht is named after Triumph motorcycles — a reported favorite of her rumored owner, British businessman Chris Dawson — and even has one on display as an art piece in the upper deck's lounge. The primary suite is 1,400 square feet and has its own study , and there's a sauna, an indoor-outdoor gym, a helipad, and a massage room spread among her six decks.
She boasts an "armada of water toys," including two kinds of Jet Skis, electric water bikes, and a banana boat.
Seanna: 64.5 meters
Price: $54,000,000 (or from $462,000 a week to charter) Special features: marble foyer, movie room, sundeck pool
The recently refurbished Seanna is available for sale and charter.
Her indoor-outdoor gym is on sea level so that passengers can take a dip after a session with the onboard personal trainer. There's also a sundeck pool, a helipad, a two-room massage facility, and, for the more cerebral guests, a library with an electric fireplace.
There are a number of toys on board, including a popular water trampoline and two WaveRunners.
Come Together: 60 meters
Price: $65,000,000 Special Features: DJ and videographer on board, ice bath, sauna
Next-to-new yacht Come Together is looking for a new owner after doing charters during the 2023 season.
The Beatles' influence is evident beyond the yacht's name, with guitars dotting the sky lounge and a crewmember who doubles as a DJ. There's also an outdoor cinema and bar for entertainment and an ice bath and sauna for the day after the party. The owner's suite has a private study and lounge, and each guest cabin has its own ensuite.
The sale includes a number of toys, like Jet Skis, kayaks, and Seabobs.
Watch: Inside the world's biggest cruise ship that just set sail
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Great America owner Cedar Fair and Six Flags will merge
It's unclear how the deal will affect plans to close the santa clara amusement park within the next decade, by michelle chapman | associated press • published november 2, 2023 • updated on november 2, 2023 at 6:18 pm.
Cedar Fair, the owner of Santa Clara amusement park Great America, and theme park giant Six Flags, owner of Discovery Kingdom in Vallejo, are merging to create an expansive amusement park operator spread across 17 U.S. states and three countries.
The combined company, worth more than $3.5 billion, will boast 27 amusement parks, 15 water parks and nine resort properties in the U.S., Canada, and Mexico. It will also have entertainment partnerships and a portfolio of intellectual property including Looney Tunes, DC Comics and Peanuts.
It wasn't immediately clear how the deal will affect plans to close California's Great America within the next decade . Cedar Fair owns and operates the 47-year-old Santa Clara amusement park.
Amusement parks have seen an uptick in revenue but have struggled to raise attendance since the pandemic, even as other entertainment sectors have bounced back. A tie-up between two huge players is expected to at least lower costs.
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In addition to owning Discovery Kingdom in Vallejo, Six Flags owns Hurricane Harbor water park in Concord.
Cedar Fair reported an attendance of 12.4 million guests in its third quarter, a 1% increase from a year earlier. Six Flags announced a 16% rise in its third-quarter attendance, which totaled 9.3 million guests.
But amusement parks, including Six Flags, have struggled to get people through the gates, said James Hardiman at Citi Investment Research.
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"Whereas the theme park industry as a whole has been under significant pressure since the start of the pandemic, Six Flags has created additional pressure of its own, with a volatile new attendance and pricing strategy that has struggled to take root, alienating its core customers and leading to dramatic drops in visitation along the way," Hardiman wrote.
Six Flags and Cedar Fair, which have little geographical overlap, anticipate $120 million in cost savings within two years of closing the deal.
Six Flags and Cedar Fair have talked about potential deals before, with Six Flags previously making an offer for Cedar Fair in 2019, but it was turned down. SeaWorld approached Cedar Fair with a bid last year, but that proposal was also rejected.
Under the agreement announced Thursday, Cedar Fair unitholders will receive one share of common stock in the combined company for each unit owned, while Six Flags shareholders will receive 0.5800 shares of stock in the combined company for each share owned.
Cedar Fair unitholders will own approximately 51.2% of the combined company, while Six Flags shareholders will own about 48.8%.
"Our merger with Six Flags will bring together two of North America’s iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance," Cedar Fair CEO Richard Zimmerman said in a prepared statement.
Zimmerman will be president and CEO of the combined company. Selim Bassoul, president and CEO of Six Flags, will become executive chairman.
The companies said that given their broader geographic footprint as a single company, seasonal volatility should moderate.
The company's newly formed board will include six directors from Cedar Fair and six directors from Six Flags.
The company will be headquartered in Charlotte, North Carolina, and will keep significant finance and administrative operations in Sandusky, Ohio, where Cedar Fair is based.
Six Flags is now based in Arlington, Texas.
Once the deal closes, the combined company will operate under the name Six Flags and trade under the ticker symbol FUN on the New York Stock Exchange.
The transaction, which was approved by both companies' boards, is targeted to close in the first half of next year. It still needs approval from Six Flags shareholders. Shares of Six Flags Entertainment Corp. and Cedar Fair LP were essentially flat before the opening bell Thursday, but both are up more than 9% this week after rumors of a deal began to spread.
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The US Treasury's Office of Foreign Assets Control (OFAC) said it had "identified Alfa Nero, a Cayman islands flagged yacht that AG Guryev reportedly bought for $120m in 2014, as blocked ...
Alfa Nero is a super yacht built in 2007, and has been considered one of the largest private motor yachts. In March 2022, it was reported by Forbes that it was registered in the Cayman Islands at 267 feet, with a value of $81 million.. In 2022, Forbes reported that the ship was owned by Andrey Guryev. On Friday June 16, 2023, Alfa Nero was sold to former Google CEO Eric Schmidt for $67.6 ...
He is the owner of the yacht Alfa Nero.We were told he also bought the yacht LUMINOSITY.. The Alfa Nero is an impressive 82-meter motor yacht built by renowned Oceanco, and was delivered to her original owner, Theodore Angelopoulos, in 2007.Sharing its hull platform with the yacht Amevi, this magnificent vessel boasts an exquisite design by Nuvolari-Lenard and Alberto Pinto Design.
PHOTO: Schnippchen (CC by SA 4.0) Alfa Nero Auction Concludes in Sale to New Owner. June 18, 2023By: Diane M. Byrne. Following the Alfa Nero auction in Antigua on June 16, the country's government officials have revealed that the new owner is a high-profile American. Specifically, Sir Ronald Sanders, Antigua's ambassador to the United ...
The Alfa Nero yacht is an impressive 82-meter motor yacht built by renowned Oceanco, and was delivered to her original owner, Theodore Angelopoulos, in 2007.Sharing its hull platform with the yacht Amevi, this magnificent vessel boasts an exquisite design by Nuvolari-Lenard and Alberto Pinto Design.. Stunning Features. Alfa Nero can accommodate 16 guests and features a crew of 28.
It was launched by the daughter of Russian billionaire Andrey Guryev to challenge the seizure of the Alfa Nero superyacht. The island's government wants to sell the vessel and keep the proceeds.
Following the government of Antigua and Barbuda's announcement of intention to auction off 266ft (81.3m) ALFA NERO back in March, the government has announced the official selling off of the iconic Oceanco motor yacht. The previous owner, rumored to be Russian tycoon, Andrey Guryev, all but abandoned the yacht in February 2022 when the war in Ukraine broke out and the yacht has been tangled ...
Alfa Nero was sold in 2011 to its current owner with an asking price of $115 million, according to Marine Industry News. The Guardian has previously reported that the yacht is linked to the ...
The US Treasury removed an abandoned $120 million Russian superyacht from its sanctions list, clearing the way for the vessel to be auctioned to the highest bidder.. The 267-foot Alfa Nero ...
Alfa Nero, a seized $120 million superyacht, may have gone dark last year, but the vessel certainly put its owner, Russian billionaire Andrey Guryev on the map. A lot has happened since then. The motoryacht was hunted and raided by the FBI, the Government of Antigua and Barbuda geared up to auction the elegant Alfa Nero that was moored at the Antigua Yacht Club Marina since February 2022, and ...
The completion of the sale of abandoned superyacht Alfa Nero has reached another roadblock as former Google CEO Eric Schmidt is reported to have backed out of the deal amid "legal wrangling".. The 81.3-metre Alfa Nero was sold at auction on 16 June for $67,000,677 having been declared abandoned by the government of Antigua and Barbuda, but has been wrapped up in litigation ever since.
The Alfa Nero auction concluded in June, with Schmidt submitting a $67.6-million bid according to government officials. The 269-footer (82-meter) arrived in Falmouth Harbor in February 2022, remaining unused for more than a year. The government declared Alfa Nero "abandoned" in March 2023 due to lack of maintenance, the crew going unpaid ...
Erin Marquis. The superyacht Alfa Nero docked in Falmouth Harbour in Saint Paul Parish, Antigua, on Wednesday, April 20, 2023. It's been more than a year since the Russian superyacht Alfa Nero ...
Iconic yachts: On board Oceanco's striking 81m superyacht Alfa Nero. Big, black and beautiful, the 81.27 metre Oceanco motor yacht Alfa Nero makes an incredibly powerful impression. "The first impression you receive on stepping aboard is of wide-open decks leading into big uncrowded rooms". This image: Oceanco. Top image: Pamela Jones.
By Robert A. Emmanuel [email protected] Another legal roadblock threatens to stymie government's plans to auction the Alfa Nero superyacht after the alleged owners applied for an emergency ...
The ALFA NERO yacht is an 82.27 meter (266.8 ft) luxury yacht first built by Oceanco in 2007. She ranks in 121st place on the list of largest yachts in the world and was designed by Alberto Pinto and Nuvolari Lenard. She is currently available for charter for a weekly price between US $730,000 and $940,000. Name: Alfa Nero. Length: 82 m (269 ft)
Starting prices are shown in a range of currencies for a one-week charter, unless otherwise indicated. ALFA NERO is a 81m luxury motor mega yacht available for charter built in 2007, refitted in 2021. Charter up to 12 guests in 6 cabins (1 Master & 2 VIP) with a crew of 26.
The crew of the abandoned 81.3-metre Oceanco motor yacht Alfa Nero will receive more than a year of unpaid wages following a ruling by a high court judge. The case against the owner was brought before the High Court of Antigua and Barbuda by Nautilus International and Captain Christopher Malcolm Lewis in September 2023.
Modeled after J.P. Morgan's yacht, the Nero is 90 meters in length and available to charter for about $500,000 a week. ... The owner's suite has a private study and lounge, and each guest cabin ...
Further, he is the owner and publisher of the Russian Yachting Magazine and owner of a yacht transport company. Alfa Nero - motor yacht - 82m (269.03ft) - Oceanco - 2007 - Theodore Angelopoulos - net worth USD 1 billion - Greece
June 16, 2023 at 10:04 AM PDT. Listen. 1:43. Former Google CEO Eric Schmidt bought the Alfa Nero superyacht that was ditched in Antigua in March 2022 after Russian troops invaded Ukraine. The ...
Cedar Fair, the owner of Santa Clara amusement park Great America, and theme park giant Six Flags are merging to create an expansive amusement park operator spread across 17 U.S. states and three ...
Crewed-Yacht (39) Live aboard, Motor yacht (1) Liveaboard (1) Monohull, Sailing, Classic Ketch (1) Monohull, Sailingyacht (1) Motoryacht (1117) Sail (37) ... Alfa Mario Alfa Nero Alhambra Alice Alice 90 Alice 92 Alicia Alila Purnama Allure Allure A Altair Always Believe Amanecer Amaryllis Amica Mea Amigos Amore Amore Mio Anavi
Motorized yachts are more common than sailboats in California with 1,887 powerboats listed for sale right now, versus 658 listings for sailboats. Yacht prices in California. Prices for yachts in California start at $13,544 for the lowest priced boats, up to $4,500,000 for the most expensive listings, with an average overall yacht value of ...