Royal Caribbean Group has bought the remaining shares of Silversea Cruises, two years after the company acquired a two-thirds stake in July 2018. Manfredi Lefebvre d'Ovidio will be chairman, and Roberto Martinoli will remain CEO of the brand.
“Silversea has been a great complement to our company from day one,” said Richard Fain, Chairman and CEO of the Royal Caribbean Group. “The cultures of the two organizations have proven to be harmonious, and guests have responded favorably to this combination.”.
The remaining third of Lefebvre's stake in Heritage Cruise Holding Ltd. was paid for in the form of 5.2 million ordinary shares of the Royal Caribbean Group, representing about 2.5% of the total ordinary shares, valued at about $245 million.
Manfredi and Roberto have brought a fresh perspective to our company, as well as a deep understanding of their brand's customers,' Fain continued. Their skills and Manfredi's inimitable style will continue to play an important role in Silversea's future growth.
Lefebvre commented: “The combination of our companies has been everything I hoped for. The skills and resources of the Royal Caribbean Group have helped us grow and thrive. We share a vision for the bright future of cruising, and I look forward to becoming a shareholder of the Royal Caribbean Group.”.
Martinoli added: “Thanks to the incredible resources and capabilities of Royal Caribbean Group, Silversea will grow and thrive. Today marks another key step in our drive toward undisputed leadership in ultra-luxury and expedition cruising.”.
Immediately following Royal Caribbean Group's initial investment in Silversea, the Project Invictus program was announced, featuring product and ship upgrades. This was followed by orders for an expedition ship (Silver Origin, recently delivered) and two luxury ships in a new Evolution class.
