Royal Caribbean to buy stake in Silversea for $1bn

Royal Caribbean Cruises is set to acquire a 66.7% stake in Silversea Cruises.

Richard Fain, chairman and CEO of Royal Caribbean Cruises, said: “Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth.

“Uniting our two companies presents an extraordinary opportunity to expand vacation options for guests and create revenue in strategic growth areas.

“We are proud to welcome aboard Manfredi Lefebvre, a visionary leader whose high standards and history of innovation we deeply respect.

This partnership will bolster the growth of this exceptional brand founded by my father

“Manfredi will remain executive chairman of Silversea, continuing to lead its strategy long term.”

Royal Caribbean currently consists of three brands – Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises – it also has stakes in Spanish line Pullmantur and Tui Cruises, which focuses on the German-speaking market.

The acquisition adds both an expedition and ultra luxury dimension to Royal Caribbean’s roster.

Manfredi Lefebvre added: “This partnership will bolster the growth of this exceptional brand founded by my father.

“I have always been kindred spirits with Richard and we share a vision of offering excellence and leadership to our guests.

“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 in his role.

The deal is expected to be completed later in the year, subject to customary closing conditions and regulatory approvals.