Royal Caribbean Cruises Ltd Buys Majority Stake in Silversea Cruises

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Royal Caribbean Cruises Ltd. SilverseaThis week Royal Caribbean Cruises Ltd. announced an agreement for Royal Caribbean to acquire a stake in the privately owned Silversea Cruises.

Under the agreement with Manfredi Lefebvre D’Ovidio, executive chairman of Silversea Cruises, Royal Caribbean will acquire a 66.7 percent equity stake in Silversea Cruises based on an enterprise value of approximately $2 billion. The purchase price of the equity being acquired is approximately $1 billion.

“Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruis- ing, two key markets that are poised for growth,” said Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises Ltd., in press materials.

“This partnership will bolster the growth of this exceptional brand founded by my father,” added Lefebvre D’Ovidio also in press materials. “This new partnership gives Silversea the opportunity to accelerate the growth of the most successful luxury and expedition cruising brand in the world.”

Lefebvre D’Ovidio will continue to serve as Silversea’s executive chairman and the cruise line’s CEO Roberto Martinoli will also continue in his role, working with the existing Silversea management team.

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