The British group P&O - PENINSULAR AND ORIENTAL NAVIGASTION COMPANY has taken over the Greek cruise liner company FESTIVAL CRUISES, which will be merged with P&O PRINCESS, the future cruise company that P&O intends creating by regrouping the British firm P&O CRUISES, American PRINCESS CRUISES and German AIDA CRUISES. The cost of the acquisition has not been stipulated but could reach $400 million.