June 18, 2018 - Royal Caribbean Cruises Ltd. (RCL), the world's second largest cruise company, has acquired a majority stake in the Monegasque luxury cruise brand Silversea Cruises. Royal Caribbean will have to spend around one billion US dollars to acquire 66,7 percent of the company's shares.
Silver Cloud in the port of Civitavecchia
The enterprise value of the luxury cruise line Silversea Cruises is said to amount to approximately two billion US dollars. The company is privately owned by the Roman Lefebvre family. The Royal Caribbean Group is paying around one billion US dollars to buy the two-thirds stake. In addition, the acting CEO receives Manfredi Lefebvre D'Ovidio approximately 472.000 RCL shares. Royal Caribbean shares are currently trading at around $ 114. The value of the package would thus correspond to approximately 53,8 million US dollars. The share transfer is made dependent on the achievement of certain targets in 2019 and 2020.
The majority takeover by RCI aims to strengthen the position of both companies in their common key markets. Royal Caribbean sees itself well prepared for further growth thanks to its significant stake in the market leader in luxury and expedition cruises. In addition, the portfolio is being diversified. Royal Caribbean sees itself consolidated in the field of expedition cruises. In addition, synergy effects, purchasing benefits and other savings are to be achieved through the merger.
Silver Spirit off Santorini
Under the umbrella of Royal Caribbean Ltd. act the brands Azamara Club Cruises, Celebrity Cruises and Royal Caribbean International. Significant holdings also exist TUI Cruises and the Spanish provider Pullmantur. Silversea Cruises currently operates nine ultra-luxury and expedition ships. Two more ships in the format of the Silver Muse, which were put into service in 2017, are under construction or on order.