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Royal Caribbean to Acquire Remaining Stake in Silversea Cruises for $245M

Royal Caribbean to Acquire Remaining Stake in Silversea Cruises for $245M

Royal Caribbean Cruises (NYSE: RCL) announced it acquired the remaining one-third stake of Silversea Cruises it didn't already own. The cruise ship operator said it paid Heritage Cruise Holding 5.2 million shares of its stock -- that's 2.5% of its outstanding shares, which equates to about $245 million. The cruise ship industry has obviously run aground due to the coronavirus pandemic, which caused customer cancellations, and Royal Caribbean's stock, which had been sailing higher before the crisis, lost 85% of its value.