Royal Caribbean Cruises Ltd is to acquire the majority stake in privately-owned Silversea Cruises, bringing together two companies with bold, long-term but widely different visions for the cruise industry.
Under the agreement, Royal Caribbean will acquire a 66.7 per cent equity stake valued in the region of $1bn, while Silversea owner Manfredi Lefebvre D’Ovidio will receive an estimated 472,000 RCL shares.
“Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth,” said Richard Fain (pictured left), chairman of RCCL.
“Uniting our two companies presents an extraordinary opportunity to expand vacation options for guests and create revenue in strategic growth areas.”
Fain added: “We are proud to welcome aboard Manfredi Lefebvre, a visionary leader whose high standards and history of innovation we deeply respect. Manfredi will remain Executive Chairman of Silversea, continuing to lead its strategy long term.”
“This partnership will bolster the growth of this exceptional brand founded by my father,” said Lefebvre. “I have always been kindred spirits with Richard and we share a vision of offering excellence and leadership to our guests.
“This new partnership gives Silversea the opportunity to accelerate the growth of the most successful luxury and expedition cruising brand in the world.”