Royal Caribbean to pay $1 billion for a two-thirds stake in Silversea Cruises

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  1. sniper-academy

    sniper-academy Administrator Staff Member

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    Royal Caribbean Cruises Ltd. said Thursday it was paying about $1 billion to acquire a 66.7% equity stake in privately held Silversea Cruises. Royal Caribbean plans to fund the deal with debt. As part of the deal, Silversea Chairman Manfredi Lefebvre D'Ovidio will qualify for a contingent consideration of about 472,000 Royal Caribbean shares, payable on certain performance metrics from 2019 to 2020. Based on Wednesday's stock closing price of $107.98, the contingent could be worth $50.97 million. Separately, Royal Caribbean affirmed its 2018 adjusted EPS guidance range of $8.70 to $8.90, but said increases in market fuel and dollar strength could reduce second-half net EPS by roughly 25 cents a share. The stock, which was still inactive in premarket trade, had shed 14% over the past three months, while the S&P 500 has gained 1%.

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