Royal Caribbean Group has announced that they have purchased the remaining shares in the ultra-luxury cruise line Silversea Cruises.
The move to full ownership comes two years after Royal Caribbean acquired a 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 D. Fain, Chairman and CEO of Royal Caribbean Group. “The cultures of the two organizations have proven to be harmonious, and guests have responded favorably to the combination.”
Manfredi Lefebvre d’Ovidio, who took over the company from his late father, will serve as chairman of Silversea. Roberto Martinoli will remain the brand’s president and CEO.
“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 said. “Their skills – and Manfredi’s inimitable style – will continue to play an important role in growing Silversea into the future.”
The remaining one-third stake held by Heritage Cruise Holding Ltd. was paid for in the form of 5.2 million shares of Royal Caribbean Group common stock, which represents about 2.5% of the total common stock.
Silversea Cruises has a fleet of six luxury cruise ships and three expedition vessels. The cruise line has four more new cruise ships on order or under construction.
Royal Caribbean now owns four global cruise lines: Royal Caribbean, Celebrity Cruises, Azamara, and Silversea Cruises. The company is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, our brands operate 63 ships with an additional 16 on order as of July 10, 2020.
