Royal Caribbean Group completes Silversea Cruises acquisition

INTERNATIONAL. Royal Caribbean Group has acquired the remaining one-third stake in luxury cruise and expedition company Silversea Cruises that it did not already own. The completion follows Royal Caribbean’s initial purchase of two-thirds of Silversea’s business in July 2018.

Royal Caribbean Group purchased the remaining stake, held by Heritage Cruise Holding, using 5.2 million shares of Royal Caribbean Group common stock.

Manfredi Lefebvre D’Ovidio — who took over the company from his late father Antonio Lefebvre D’Ovidio — will serve as Chairman of Silversea Cruises. Roberto Martinoli will remain as the company’s CEO.

Royal Caribbean Group acquired two-thirds of Silversea Cruises in July 2018

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

“Manfredi and Roberto have brought a fresh point of view to our company, as well as deep knowledge of their brand’s unique audience,” Fain added. “Their skills – and Manfredi’s inimitable style – will continue to play an important role in growing Silversea into the future.”

Royal Caribbean Group Chairman and CEO Richard D. Fain says that the group’s synergies with Silversea make the acquisition a great fit for the Royal Caribbean portfolio

D’Ovidio said: “The combination of our companies has been everything I hoped for. 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.”

“Thanks to the incredible resources and skills of Royal Caribbean Group, Silversea will grow and thrive. Today marks another key step in our drive to uncontested leadership in ultra-luxury and expedition cruising,” Martinoli added.

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