Carnival Plans to Sell Carnival Plc Share

By ,   February 2, 2016 ,   Cruise Industry

Carnival Corporation and a wholly owned investment subsidiary revealed plans to sell up to 26.9 million existing Carnival plc ordinary shares, held in the UK market, in 'at the market' transactions. These will occur at times when Carnival Corp. common stock is traded at a discount to Carnival plc shares.

Carnival Corporation & plc intends to profit the net proceeds of Carnival plc share sales to purchase back Carnival Corporation common stock on an at least equivalent basis in the United States market and to use remaining net proceeds for general corporate purposes.

According to the filing, Carnival Corporation & plc only intended to trade where it would derive an economic benefit from Carnival plc share deals and Carnival Corporation stock swap repurchase program.