Royal Caribbean Group has purchased its remaining shares of Silversea Cruises and now owns 100 per cent of the luxury cruise line, the company announced on Friday (July 10).
The purchase amounts to around $245 million USD worth of stock, reports say.
Royal Caribbean’s move to full ownership comes two years after the company acquired two-thirds of Silversea in July 2018 as part of a $1 billion USD deal.
Silversea’s Manfredi Lefebvre D’Ovidio retained a one-third share in the deal and stayed on as the company’s Executive Chairman. Moving forward, he will serve as chairman of Silversea while Roberto Martinoli will be the brand’s president and CEO.
"Silversea has been a great fit for our company from the very first day," Richard D. Fain, chairman and CEO of Royal Caribbean Group, said in a statement. "The cultures of the two organizations have proven to be harmonious, and guests have responded favorably to the combination."
Fain added: "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."
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