Jul 9, 2020 · Business

Royal Caribbean Group completes acquisition of Silversea

Royal Caribbean Group has purchased the remaining shares of Silversea Cruises, a pioneer and leader in ultra-luxury and expedition cruising, after acquiring a two-thirds share of the cruise line in July 2018.

“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. “The cultures of the two organizations have proven to be simpatico, and guests have responded favorably to the combination.”

Manfredi Lefebvre d’Ovidio, who built the company in partnership with his late father, will continue as chairman of Silversea. Roberto Martinoli will remain the brand’s president and CEO.

The remaining one-third stake held by Heritage Cruise Holding Ltd. was paid in the form of 5.2 million shares of Royal Caribbean Group common stock.

Silversea joins Royal Caribbean International, Celebrity Cruises, Azamara, TUI Cruises and Hapag-Lloyd Cruises as members of Royal Caribbean Group.