TPG Capital and Canada Pension Plan Investment Board intend to make a joint US$ 500 M investment in parent company Viking Cruises for a combined 17 per cent stake, according to Mergers&Acquisitions (M&A).

Viking Sea

M&A said that the funding would help the growth of Viking, particularly in ocean cruise area, and strengthen company's balance sheet as it branches into China starting from 2016.

The deal is subject to regulatory approval and is expected to close early in the 4th quarter.

Viking Cruises is scheduled to add Viking Spirit, Viking Sky and Viking Sun, as well as an unnamed 4th newbuild to its blue water fleet until 2020.