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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.

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