Royal Caribbean Group buys Silversea's remaining shares

   July 12, 2020 ,   Cruise Industry

The world's second-largest cruise shipowner RCCL-Royal Caribbean Group purchased the remaining shares of the top-luxury cruise brand Silversea. The move to full ownership comes 2 years after July 2018 when RCCL acquired 66,7% of Silversea.

Richard Fain (RCCL's Chairman and CEO) said that Silversea had been a great fit for their company from the very first day. He added the cultures of both organizations had proven to be harmonious, and guests had "responded favorably to the combination."

Manfredi Lefebvre d’Ovidio, who took over the Silversea company from his father, will serve as Chairman. Roberto Martinoli remains Silversea's President and CEO.

According to Lefebvre, the combination of their companies had been everything he had hoped for. He added the skills and resources of Royal Caribbean Group had helped them "grow and flourish" and they also shared a vision about the bright future of cruising.”

Added Martinoli said that "thanks to the incredible resources and skills of Royal Caribbean Group, Silversea will grow and thrive." He added the purchase marked another key step in their drive to "uncontested leadership in ultra-luxury and expedition cruising.”

Royal Caribbean Group buys Silversea remaining shares

The remaining 1/3 stake (held by Heritage Cruise Holding Ltd) has been paid for in the form of 5,2 million RCL shares (common stock), representing ~2,5% of the corporation's total common stock.