Carnival Purchases Remainder Of Cunard

Friday, October 22, 1999
Carnival Corp. has exercised its option to purchase the remaining 32 percent minority interest in Cunard Line Ltd. in a deal worth about $205 million. Carnival acquired a 68 percent interest in Cunard Line Ltd. in May 1998. With the purchase of the 32 percent minority interest, Carnival will own 100 percent of Cunard. Under its option, Carnival said it has the right to purchase the minority interest for shares of Carnival common stock. In exercising its option, Carnival also offered the minority shareholders a cash alternative of $39.50 per Carnival share. Cunard Line Ltd. owns two luxury cruise lines - Cunard Line and Seabourn Cruise Line, which together operate eight luxury ships, including the world-renowned Queen Elizabeth 2. According to Carnival Corp. Chairman and CEO Micky Arison, the purchase of the remaining 32 percent of Cunard is being made in anticipation of the future expansion of the brand. "Considering the strength of the Cunard brand and its plans to build the largest ocean liner in the world to complement the Queen Elizabeth 2, it simply makes sense for Carnival to own 100 percent of Cunard," Arison said. - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Lerwick Port Set to Receive Largest Cruise ship

Lerwick Harbour’s record-breaking cruise season will hit the first of several milestones this season on Thursday (30 June) with the arrival of Azura, the largest

New Port Academy Liverpool Unveiled at Grand Opening

LIVERPOOL City Region has launched a new  £2.5 million maritime training academy which it believes is the only one in the U.K. to create vitally needed skills and

Ovation Of The Seas Sets Sail From China

Royal Caribbean christened their third Quantum class cruise ship, Ovation of the Seas, to huge fanfare in a ceremony in Tianjin, China.   The event marked the

 
 
Maritime Contracts Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0567 sec (18 req/sec)