Royal Caribbean Cruises announced it had successfully completed its acquisition of Silversea Cruises.
The companies announced today they have closed on Royal’s acquisition of a two-thirds stake in Silversea after receiving final approval from regulators.
“We are proud to officially welcome Silversea’s industry-leading team to the RCL family,” said Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises. “This is a dynamite combination and we can’t wait to work with Manfredi, Roberto and the entire team as together we take Silversea to the next level.”
Regulators green-lighted Royal Caribbean’s purchase of a 66.7% equity stake in Silversea Cruises, based on an enterprise value of approximately $2 billion. Manfredi Lefebvre d’Ovidio will remain Executive Chairman of Silversea and retain a 33.3% stake.
“We’re excited to join the Royal Caribbean family and ready to begin this next chapter as part of an industry leader that is uniquely qualified to support Silversea’s future growth,” said Lefebvre. “This partnership enables us to realize our vision of being the uncontested leader in ultra-luxury cruising and expedition, taking our guests to more than 1,000 destinations aboard some of the world’s most luxurious vessels.”
The companies also announced Project Invictus, a multi-year initiative to take Silversea’s ultra-luxury offerings to the next level. Project Invictus enhancements range from product upgrades to magnified ship revitalization programs.
“Our intent is to solidify our already strong leadership position with an exciting array of upgrades that thrill our guests,” said Roberto Martinoli, Silversea CEO.
The first Invictus enhancements will begin rolling out on the Silver Muse this upcoming August 19th where an upgraded champagne and caviar offering will be initiated.
The planned renovation of Silver Whisper in December 2018 will be much more comprehensive than initially anticipated and will include a partial refit of all guest cabins.
The Silver Wind will also enter into an enhanced drydock in December 2018. Both vessels will join the overarching plan for a fleet-wide “Musification” which will take inspiration from the design of the Silver Muse. The plan will be completed shortly after with an enhanced drydock of the Silver Shadow.