News / Viking receives funding for onboard laboratories

Viking receives funding for onboard laboratories

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Supplier: Viking

TORONTO – Viking Cruises has received an investment that will allow it to realize its vision of installing full-scale PCR laboratories on each of its ocean-going vessels.

The investment by existing minority shareholders, TPG Capital and Canada Pension Plan Investment Board (CPP Investments), will result in approximately US$500 million of net proceeds being available to support Viking Cruises in its continued development. 

“Earlier this week we announced that Viking will further invest in the installation of full-scale PCR laboratories on each of our ocean vessels,” says Torstein Hagen, Chairman of Viking. “These new onboard facilities—a cruise industry first—will provide unprecedented and robust testing capacity, enabling Viking to conduct up to daily PCR testing of all crew members and guests. This was the first in a series of announcements we have planned in the coming weeks, including our enhanced health and safety program and initiatives that will expand Viking’s global reach.”

“We are very appreciative that our shareholders from the prestigious institutions of TPG and CPP Investments are aligned with our vision for Viking’s future, which is bright. Over 40 years in the cruise industry have taught me that challenging times—such as these—are often also times of great innovation and opportunity. This infusion of equity capital will prepare us for future opportunities to continue developing our business,” he adds.

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