Royal Caribbean Group has purchased the remaining shares of Silversea Cruises, a company specializing in ultra-luxury and expedition cruising.
The remaining one-third stake held by Heritage Cruise Holding Ltd. was paid for in the form of 5.2 million shares of Royal Caribbean Group common stock, which represents about 2.5% of the total common stock.
The move to full ownership comes two years after Royal Caribbean Group acquired 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 harmonious, and guests have responded favorably 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 CEO.
“Manfredi and Roberto have brought a fresh point of view to our company, as well as deep knowledge of their brand’s unique audience,” Fain said. “Their skills – and Manfredi’s inimitable style – will continue to play an important role in growing Silversea into the future.”
“We share a vision about the bright future of cruising, and I look forward to being a shareholder in the broader Royal Caribbean Group,” said Lefebvre.