Genting Hong Kong announced Friday it has completed its $550 million acquisition of Crystal Cruises in West Los Angeles.

Tan Sri Lim Kok Thay, executive chairman of the Malaysian Genting Group, which owns Genting Hong Kong, will become the new chairman of Crystal Cruises. However, the company will keep most of Crystal Cruises’ senior management team in place and announced Friday that current Chief Operating Officer Edie Rodriguez is being promoted to president and chief executive of the luxury cruise line.

“We look forward to ushering in a new era of luxury cruising with Genting Hong Kong’s support,” Rodriguez said in a statement.

Genting Hong Kong first announced in March it would purchase the cruise line from former owner Nippon Yusen Kabushiki Kaisa, or NYK Line, a major Japanese shipping firm and a unit of Tokyo conglomerate Mitsubishi Corp.