Ambassadors International Inc. announced the sale of its travel and events division to Lakeview Equity Partners LLC, a Milwaukee-based private equity fund, effective April 16. As previously reported, Ambassadors has decided to sell all assets except for Windstar Cruises and expects to announce additional transactions in the near future. “The board and management are pleased to have completed this transaction,” Chairman Art Rodney said. “We will continue to focus all of our capital and efforts on Windstar Cruises and the small-ship luxury segment.”

Ambassadors said last week that it was seeking to sell assets, raise additional financing or renegotiate debt to avoid suspending operations or seeking bankruptcy protection. “If we are not successful at a combination of selling our non-Windstar Cruises assets, raising additional financing and/or renegotiating existing debt obligations in order to raise funds for operations, we may not be able to continue as a going concern,” the company reported in an SEC filing. Ambassadors operates Windstar and previously ran Majestic American Line. It is also a global provider of construction and consulting services to marina owners. The company is moving its headquarters from Newport Beach, Calif., to Seattle. For more information, visit www.ambassadors.com.
 

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