Royal Caribbean Group has acquired all the remaining shares of Silversea Cruises, having already taken over two-thirds of the cruise line in July 2018.
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 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 organisations have proven to be harmonious, and guests have responded favourably 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.”
Royal Caribbean Group comprises four brands: Royal Caribbean International, Celebrity Cruises, Azamara and Silversea. The group is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. In all, the brands operate 63 ships with an additional 16 on order as of July 10, 2020.
Photo – top of page – copyright 2000 Silversea Criuses