Awilhelmsen announced that it had sold 3.6 million shares of common stock of Royal Caribbean Cruises “to a financial institution in a market transaction pursuant to Rule 144 of the Securities Act,” according to a statement.

Following this sale, Awilhelmsen, together with its affiliates, continues to beneficially own approximately 14% of RCL’s outstanding common stock.

“This sale of shares enables Awilhelmsen to complete a transaction with its owning families, while maintaining its significant position as the largest shareholder of RCL,” said Sigurd E. Thorvildsen, CEO.

Awilhelmsen is a privately owned investment company located in Oslo, Norway. Awilhelmsen was established in 1939, and was one of three founders of Royal Caribbean Cruises in 1968.