Billionaire Francois Pinault's Artemis Group Joins Luxury Cruise Ship Business

Francois Pinault

Photo: http://lyrial.ponant.com

François Pinault, French entrepreneur and husband of actress, Salma Hayek has entered the real estate on water game. Pinault's holding company, Artemis SA said in a statement that they plan to purchase luxury cruise-ship operator Ponant from the buyout firm Bridgepoint.

"Demand in the luxury cruise market has been robust, buoyed ... by an affluent and international client base, particularly from North America and Southeast Asia," Artemis said in a statement.

The cruise company is expected to make revenues of more than 140 million euros ($133 million).

Artemis will help accelerate Ponant’s development amid increased interest from North American and Asian customers in luxury cruises, the holding company said in a statement Monday.

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