Kozlowski yacht finally sold

Convicted former Tyco CEO Dennis Kozlowski finally sold his 130 foot yacht Endeavour for $13.1 million, less than the $17.3 million he was looking for when it went up for sale last spring.  The buyer was a mystery entity called Sempervirens Ltd, which is linked to M&C Corporate services in Grand Cayman according to Bloomberg.  M&C is a unit of British law firm Maples and Calder....

L. Dennis Kozlowski, the imprisoned former Tyco International Ltd. chief executive officer, found a buyer for his historic 130-foot sailing yacht, the Endeavour.

Sempervirens Ltd. agreed to pay $13.1 million for the British-built yacht, according to court papers filed in New York. The original asking price was more than $17 million.

The sale will help Kozlowski, 59, pay $167 million in court- ordered restitution and fines as he serves a sentence of 8 1/3 to 25 years for looting Tyco. The former CEO has been trying for more than a year to sell the vessel, a 1934 America's Cup entry and celebrity craft in the yachting world.

``Someone would buy the boat for the same reason they would buy John F. Kennedy or Jackie O memorabilia,'' said Marcia J. Whitney of J Class Management Inc., whose president restored the Endeavour and has been chartering it to customers for private trips. ``It's all about history....

``No one truly owns Endeavour,'' Kozlowski once said, according to the J Class Association. ``She's a part of yachting history. I'm delighted to be the current caretaker.'' ....

Kozlowski Finds a Buyer for Yacht at $13.1 Million - Bloomberg