Spain Approves Acquistion of Iberocruceros
The Spanish Antitrust Authority has granted official approval to the acquisition of sole control by Costa Crociere S.p.A. of Iberocruceros, a brand operating in the Spanish market. The operation was first announced on May 29 this year following the signing of an agreement between Costa Crociere S.p.A. and the leading Spanish tour operator Orizonia. Now, following the go-ahead from the antitrust authority, the deal is to be completed during July 2009. Iberocruceros was established in 2007 as a joint venture between the Costa Crociere Group, which owned 75% of the company, and Orizonia, which had a 25% stake. Through its acquisition of the remaining 25% of the capital, Costa Crociere S.p.A. now is the only shareholder of Iberocruceros.
Executive Changes in Costa Crociere S.p.A.
Iberocruceros was created in September 2007 as a joint venture between Costa Cruises (which owns 75% of the company) and the leading Spanish tour operator Orizonia Corporación (with a 25% stake). Mr. Martini will be reporting to the Iberocruceros Board of Directors, chaired by Costa Crociere S.p.A. Chairman & CEO Pier Luigi Foschi. Iberocruceros’ General Manager Alfredo Serrano, Sales & Marketing Director Carlo Schiavon and Finance Manager Roberto Alberti will all be reporting to Mario Martini. Mr. Martini will also continue to represent the Costa Group in industry associations. 62-year-old Martini, who was born in Camogli (Genoa - Italy)…
Carnival and Orizonia Finalize New Spanish Cruise Operation
multi-ship cruise brand serving the Spanish market. percent. and is expected to be accretive to results in 2008. Carnival group. Cruise Lines' fleet, will be transferred to the new Iberocruceros company. service in late spring 2008. headquartered in Madrid. CEO of Carnival Corporation & plc's Costa Cruises unit. include Orizonia CEO Gabriel Subias. The three Iberocruceros ships will fly the Italian flag. for these vessels will be announced shortly.
Carnival in Deal to Expand in Spain
Carnival Corporation & plc and Orizonia Corporación, Spain’s largest travel company which operates its own cruise fleet under its Iberojet division, announced the signing of a letter of intent to form a joint venture to operate and expand the existing Iberojet Cruceros brand in Spain. Iberojet Cruceros operates two modern cruise ships, the 834-passenger Grand Voyager, built in 2000, and the 1,196-passenger Grand Mistral, constructed in 1999, which represent the newest ships in the contemporary Spanish cruise market. The new joint venture would eventually be comprised of a multi-ship fleet serving the rapidly expanding Spanish vacation sector. Under the proposed agreement, the two existing vessels would be transferred to the joint venture company.
