U.S. Markets closed

Royal Caribbean Juices Stock With Silversea Stake

barrons.com
Royal Caribbean Juices Stock With Silversea Stake

Shares of Royal Caribbean Cruises (RCL) are up more than 5% on Thursday, following news that the company will acquire a stake in luxury operator Silversea Cruises. Royal Caribbean estimates the $1 billion purchase will have an enterprise value of $2 billion and expects the deal to close by the end of the year, although it doesn't see any material impact to its 2018 earnings outlook. The company also reaffirmed its full-year guidance. Royal Caribbean CEO Richard Fain, who spoke to Barron's following the company's first-quarter earnings report, was named one of our World's 30 Best CEOs last month. Wells Fargo's Timothy Conder reiterated an Outperform rating on Royal Caribbean shares today. He likes