Royal Caribbean Group acquires remaining Silversea shares

Royal Caribbean Group acquires remaining Silversea shares
Silversea Cruises
Royal Caribbean Group has now taken full ownership of Silversea Cruises

Royal Caribbean Group has purchased the remaining shares of Silversea Cruises, taking full ownership of the luxury cruise line.

The cruise company previously acquired a controlling two-thirds share of the cruise line in July 2018.

“Silversea has been a great fit for our company from the very first day,” said Richard Fain, chairman and CEO of Royal Caribbean Group. “The cultures of the two organisations have proven to be harmonious, and guests have responded favourably to the combination.”

Manfredi Lefebvre d’Ovidio, who took over the company from his father, will now serve as chairman of Silversea. Roberto Martinoli will remain the brand’s president and CEO.

“The combination of our companies has been everything I hoped for,” said Lefebvre. “The skills and resources of Royal Caribbean Group have helped us grow and flourish. We share a vision about the bright future of cruising, and I look forward to being a shareholder in the broader Royal Caribbean Group.”

The remaining one-third stake held by Heritage Cruise Holding was paid for in the form of 5.2 million shares of Royal Caribbean Group common stock, representing 2.5 per cent of the total common stock.

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Alex Smith
By Alex Smith
14 July 2020

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