Royal Caribbean Strikes Share Buyback Deal

  • Business & Finance

Royal Caribbean Strikes Share Buyback Deal

Royal Caribbean Cruises Ltd. has agreed to repurchase the company’s 3.5 million shares of common stock held by Awilhelmsen AS (Awilhelmsen), for a price of USD 67.45 per share.

The repurchase is expected to close on November 6, 2014.¬†Following the sale of common stock, Awilhelmsen, together with its affiliates, will own approximately 16% of RCL’s outstanding common stock. RCL will fund the transaction with cash on hand.

“Our Board of Directors and management team believe in the long-term health and profitability of the company. We believe this is an opportunistic repurchase transaction, which uses our cash on hand, is accretive to per-share earnings, and is beneficial to all shareholders of RCL,” said Richard D. Fain, RCL Chairman and CEO.

Press Release

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