RCL Invests $1B in Silversea
Royal Caribbean to buy controlling stake in ultra-luxury cruise line
Royal Caribbean Cruises Ltd. (RCL) is set to acquire a majority stake in privately-owned Silversea Cruises. Under the terms of the deal, RCL will purchase a 66.7% equity stake in the Fontvieille, Monaco-based, all-suite cruise line for approximately $1 billion, and Silversea executive chairman Manfredi Lefebvre and ceo Roberto Martinoli will continue to lead the company in their existing roles. The transaction is expected to close later this year.
Through the acquisition, Miami-headquartered RCL says it expects to drive long-term capacity growth in two significantly expanding markets, diversify its portfolio and leverage the global footprint of the newly combined companies.
"Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth," says Richard Fain, chairman and ceo of RCL. "Uniting our two companies presents an extraordinary opportunity to expand vacation options for guests and create revenue in strategic growth areas."
Fain adds: "We’re proud to welcome aboard Manfredi Lefebvre, a visionary leader whose high standards and history of innovation we deeply respect. Manfredi will remain executive chairman of Silversea, continuing to lead its strategy long term."
"This partnership will bolster the growth of this exceptional brand founded by my father," says Lefebvre. "This new partnership gives Silversea the opportunity to accelerate the growth of the most successful luxury and expedition cruising brand in the world."
Silversea's ceo Roberto Martinoli will continue working with the existing Silversea management team, according to the company. The cruise line currently operates a fleet of all-suite vessels including Silver Wind, Silver Shadow, Silver Whisper, Silver Spirit, Silver Muse and other expedition ships.