WAAAYTOOO Posted July 10, 2020 Report Share Posted July 10, 2020 I guess the best news here is that Royal Caribbean has any money to purchase anything ! A bit of reassurance, I suppose https://seekingalpha.com/news/3590167-royal-caribbean-acquires-remaining-stake-in-silversea?utm_medium=email&utm_source=seeking_alpha&mail_subject=rcl-royal-caribbean-acquires-remaining-stake-in-silversea&utm_campaign=rta-stock-news&utm_content=link-3 SteveinSC, YOLO, ehw51 and 4 others 4 1 2 Quote Link to comment Share on other sites More sharing options...
Matt Posted July 10, 2020 Report Share Posted July 10, 2020 10 minutes ago, WAAAYTOOO said: Royal Caribbean has any money to purchase anything Actually, no cash involved. "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." SteveinSC, WAAAYTOOO, ehw51 and 3 others 5 1 Quote Link to comment Share on other sites More sharing options...
Jmccaffrey Posted July 10, 2020 Report Share Posted July 10, 2020 Friday, June 10, 2020 MIAMI – July 10, 2020 – Royal Caribbean Group (NYSE: RCL) has purchased the remaining shares of Silversea Cruises, a pioneer and leader in ultra-luxury and expedition cruising. 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.” Said Lefebvre: “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.” Added Martinoli: “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 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. Perella Weinberg Partners LP served as financial advisor and Skadden Arps, Slate, Meagher & Flom LLP served as legal advisor to the company regarding this transaction. Barclays Bank PLC served as financial advisor to Manfredi Lefebvre and Morgan, Lewis & Bockius LLP provided legal counsel. YOLO, Ogilthorpe and ehw51 3 Quote Link to comment Share on other sites More sharing options...
twangster Posted July 10, 2020 Report Share Posted July 10, 2020 I think this was the intention from the start, they're just completing the plan. Ogilthorpe, WAAAYTOOO, YOLO and 1 other 4 Quote Link to comment Share on other sites More sharing options...
FManke Posted July 10, 2020 Report Share Posted July 10, 2020 It would seem by this move that RCG, I guess would be the correct new acronym, is confident in these seemingly rocky times, that they have a positive outlook for cruising in the future. It should be a good sign for all of us. WAAAYTOOO, Baked Alaska, Ogilthorpe and 1 other 4 Quote Link to comment Share on other sites More sharing options...
YOLO Posted July 10, 2020 Report Share Posted July 10, 2020 1 minute ago, FManke said: It would seem by this move that RCG, I guess would be the correct new acronym, is confident in these seemingly rocky times, that they have a positive outlook for cruising in the future. It should be a good sign for all of us. True, but shouldn't you always have a rosy outlook for your business? In any case, I hope you are right! Quote Link to comment Share on other sites More sharing options...
FManke Posted July 10, 2020 Report Share Posted July 10, 2020 2 minutes ago, YOLO said: True, but shouldn't you always have a rosy outlook for your business? Yes, but a lot of businesses are just standing pat, with the current social and business climate and the uncertainty of the upcoming election. YOLO 1 Quote Link to comment Share on other sites More sharing options...
bobroo Posted July 11, 2020 Report Share Posted July 11, 2020 I do not understand the benefit of wholly owning Silversea at this point in time. Crazy... Quote Link to comment Share on other sites More sharing options...
Matt Posted July 11, 2020 Report Share Posted July 11, 2020 7 minutes ago, bobroo said: I do not understand the benefit of wholly owning Silversea at this point in time. Crazy... They got it for nothing (stock options, not cash) and when cruises resume, they'll get more (potential) revenue than before. Ogilthorpe and ehw51 2 Quote Link to comment Share on other sites More sharing options...
Jmccaffrey Posted July 11, 2020 Report Share Posted July 11, 2020 Keep in mind, the company has more flexibility now that they own 100% of Silversea Cruises. By using the stock to buy the rest of the company, RC now has more assets on the books if they need to get more debt. ..... In the end by buying this company, RC become stronger financially and more able to weather the out come of coronavirus Tanner and ehw51 2 Quote Link to comment Share on other sites More sharing options...
cruisellama Posted July 11, 2020 Report Share Posted July 11, 2020 On 7/10/2020 at 8:15 AM, WAAAYTOOO said: I guess the best news here is that Royal Caribbean has any money to purchase anything ! A bit of reassurance, I suppose https://seekingalpha.com/news/3590167-royal-caribbean-acquires-remaining-stake-in-silversea?utm_medium=email&utm_source=seeking_alpha&mail_subject=rcl-royal-caribbean-acquires-remaining-stake-in-silversea&utm_campaign=rta-stock-news&utm_content=link-3 That's interesting. Guess the return on investment (ROI) is better completely buying a high end line than completing amplification. WAAAYTOOO 1 Quote Link to comment Share on other sites More sharing options...
cruisellama Posted July 11, 2020 Report Share Posted July 11, 2020 Wonder if Silverseas line is able to spin up faster (get back to sailing) with the smaller ships. They'll have penned up demand too. Jmccaffrey 1 Quote Link to comment Share on other sites More sharing options...
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