logo
Plus   Neg
Share
Email

Royal Caribbean Cruises To Acquire 66.7% Equity Stake In Silversea Cruises

Royal Caribbean Cruises Ltd. (RCL) and Manfredi Lefebvre D'Ovidio announced an agreement for RCL to acquire a stake in privately-owned Silversea Cruises. Royal Caribbean will acquire a 66.7% 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.

The company plans to finance the purchase through debt. Lefebvre will qualify for an estimated contingent consideration of approximately 472 thousand RCL shares, payable upon achievement of certain 2019-2020 performance metrics.

Royal Caribbean reconfirmed its latest 2018 adjusted EPS guidance of $8.70 to $8.90 per share. RCL does not expect the transaction to materially impact near-term adjusted earnings per share.

RCL said Silversea, with its intimate, all-suite ships, full spectrum of global cruise offerings sailing to more than 1000 global destinations, and luxury expedition vessels, adds a pioneering ultra-luxury brand to the company's brand lineup.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumer goods giant Procter & Gamble Co. on Wednesday reported a 28 percent increase in profit for the second quarter from last year, when results were impacted by a charge related to the U.S. tax reform. Both revenue and core earnings per share for the quarter beat analysts' estimates. Looking ahead, the company affirmed its outlook for fiscal 2019 earnings. LSEG Technology, London Stock Exchange Group's technology solutions provider, said it has been selected by Atom Group, a fintech company focused on blockchain technology and emerging digital assets, to power its new Hong Kong-based digital asset exchange AAX. The new digital exchange, which is expected to launch in the first half of fiscal 2019, will use LSEG's Millennium Exchange matching engine. Starbucks Coffee Co. said Tuesday it is expanding its "Starbucks Delivers" pilot to an additional six cities across the U.S. The expansion of the delivery service, in partnership with Uber Eats, begins today in San Francisco, the first of six new markets to offer the service to customers. The coffee giant plans to bring Starbucks Delivers to nearly one-quarter of U.S. company-operated stores.
Follow RTT