Royal Caribbean Group to purchase remaining shares of Silversea cruiselines
On July 10, 2020, Royal Caribbean Group acquired the rest of the shares of Silversea Cruises, a luxury cruise line. The company will now have full ownership of the company after having a one-third stake in the company in the past. The companies move to acquire the company comes at a turbulent time in the industry with the COVID-19 (coronavirus) pandemic impacting demand and revenue for cruise lines globally, as the decision to acquire brands such as Silversea helps the company grow and consolidate its share of the luxury cruise market so when the economy reopens again the company will see higher growth overall.
COVID|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
Lorem Ipsum text header Report Title
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Maecenas non leo lacinia, consectetur ipsum non, pretium augue. Vestibulum accumsan dignissim massa, eu scelerisque mi malesuada ut. Aliquam scelerisque facilisis nisl ac varius. Nunc luctus nunc vel eros iaculis, vitae tristique ante fringilla. Ut vitae vulputate est, vel lacinia nisi. Curabitur eget nulla vitae mi faucibus imperdiet. Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.
Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.