Silversea cruise line in $1bn sale deal with Royal Caribbean Cruises
Luxury line Silversea predicts more growth in the Australian market after selling a big stake to Royal Caribbean Cruises.
Australian cruise passengers are set to benefit from the majority sale of luxury Italian line Silversea to American behemoth Royal Caribbean Cruises in a $US1 billion deal overnight.
The Miami-based Royal Caribbean Cruises has purchased 67 per cent of Silversea, which counts Australians as its third largest international cruise market, after American and British passengers.
Speaking from Miami, Silversea chairman Manfredi Lefebvre said the deal would allow further growth for Silversea in the Australian market and he had been looking for a partner for the past 12 months to further grow the line.
RCC has valued its 66.7 per cent equity stake in Silversea at $US2 billion.
“The purchase price of the equity being acquired is approximately $US1 billion,” RCC said in a statement.
RCC will finance the transaction through debt.
“Silversea is a crown jewel and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth,” said Richard D Fain, chairman and CEO of Royal Caribbean Cruises.
Silversea CEO Roberto Martinoli told The Australian Silversea would remain an independent entity and the deal meant more growth for the popular luxury cruise line in both its cruise and expedition ships.
RCC’s Australian head Adam Armstrong will take over as head of Silversea’s Australian operations from August.
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