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Royal Caribbean to take majority stake in luxury line Silversea Cruises

Des Moines Register
Royal Caribbean to take majority stake in luxury line Silversea Cruises

In what amounts to the biggest cruise deal in several years, Royal Caribbean Cruises (RCL) said it would pay approximately $1 billion for the stake. Lefebvre also will receive approximately 472,000 shares of Royal Caribbean contingent upon achievement of certain performance metrics over the 2019-2020 period. The deal gives Royal Caribbean an entree into both high-end luxury cruising and expedition-style cruising — a type of cruising that involves small, often rugged ships with landing craft that can be used to visit remote and hard-to-access places. “Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth,” Royal Caribbean Cruises chairman and CEO Richard Fain said in a statement accompanying the announcement.