Royal Caribbean Group has taken complete ownership of Silversea Cruises, two years after acquiring a two-thirds share of the ultra-luxury line.
Royal Caribbean Group is the recently-introduced new name of Royal Caribbean Cruises Ltd, the parent company of Royal Caribbean International, Celebrity Cruises, Azamara, Silversea and other lines.
Richard Fain, chief executive of Royal Caribbean Group, said; “Silversea has been a great fit for our company from the very first day. 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. Roberto Martinoli will remain the brand’s president and chief executive.
Fain added: “Manfredi and Roberto have brought a fresh point of view to our company, as well as deep knowledge of their brand’s unique audience. Their skills – and Manfredi’s inimitable style – will continue to play an important role in growing Silversea into the future.”
Lefebvre said: “The combination of our companies has been everything I hoped for. The skills and resources of Royal Caribbean Group have helped us grow and flourish. We share a vision about the bright future of cruising, and I look forward to being a shareholder in the broader Royal Caribbean Group.”
Martinoli added: “Thanks to the incredible resources and skills of Royal Caribbean Group, Silversea will grow and thrive. Today marks another key step in our drive to uncontested leadership in ultra-luxury and expedition cruising.”
The remaining stake in Silversea held by Heritage Cruise Holding Ltd was paid for in the form of 5.2 million shares of Royal Caribbean Group common stock, representing about 2.5% of its total common stock.