Two years after acquiring a two-thirds share of Silversea Cruises in July 2018, Royal Caribbean Group has purchased the remaining shares in the luxury expedition cruiser that it did not own to attain full ownership.
The remaining one-third stake held by Heritage Cruise Holding was paid for in the form of 5.2 million shares of Royal Caribbean Group common stock, which represents about 2.5% of the total common stock.
“Silversea has been a great fit for our company from the very first day,” said Richard D. Fain, Chairman and CEO of Royal Caribbean Group, in a statement. “The cultures of the two organisations have proven to be harmonious, and guests have responded favourably to the combination.”
Manfredi Lefebvre d’Ovidio, who took over the company from his late father, will serve as chairman of Silversea while Roberto Martinoli will remain the brand’s president and CEO.
“Manfredi and Roberto have brought a fresh point of view to our company, as well as deep knowledge of their brand’s unique audience,” Fain said. “Their skills – and Manfredi’s inimitable style – will continue to play an important role in growing Silversea into the future.”