RCL closes Silversea acquisition

2018-08-11T06:07:37+00:00 August 11th, 2018|Finance|

Silversea Cruises has officially joined the Royal Caribbean Cruises (RCL) brand.

Both companies announced on 31st July that they had finalised RCL’s acquisition of a two-thirds stake in Silversea after receiving final approval from the regulators.

The investment means that RCL’s portfolio of cruise brands now covers all key market segments.
“We are proud to officially welcome Silversea’s industry-leading team to the RCL family,” said Richard Fain, RCL Chairman and CEO. “This is a dynamite combination and we can’t wait to work with Manfredi, Roberto and the entire team as together we take Silversea to the next level.”

Regulators gave the green light to Royal Caribbean’s purchase of a 66.7% equity stake in Silversea Cruises, based on an enterprise value of about $2 bill. Manfredi Lefebvre d’Ovidio will remain Executive Chairman of Silversea and retain a 33.3% stake.

“We’re excited to join the Royal Caribbean family and ready to begin this next chapter as part of an industry leader that is uniquely qualified to support Silversea’s future growth,” said Lefebvre. “This partnership enables us to realise our vision of being the uncontested leader in ultra-luxury cruising and expedition, taking our guests to more than 1,000 destinations aboard some of the world’s most luxurious vessels.”

With Silversea joining the RCL group alongside Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, TUI Cruises and Pullmantur Cruceros, the RCC fleet now numbers 59 ships with an additional 15 on order.
JP Morgan Securities acted as a financial advisor to RCL, as well as served as the lead arranger for the debt financing for the transaction.