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Royal Caribbean sells Azamara brand, fleet January 20, 2021, by Naida Hakirevic
Cruise major Royal Caribbean Group has entered into a definitive agreement to sell its Azamara brand to Sycamore Partners, a New York-based private equity firm.
The cruise brand is being sold in all-cash carve-out transaction for $201 million, subject to certain adjustments and closing conditions.
As informed, Sycamore Partners will acquire the entire Azamara brand, including its three-ship fleet and associated intellectual property. The transaction is subject to customary conditions and is expected to close in the first quarter of 2021.
Illustration. Image Courtesy: Royal Caribbean
Royal Caribbean Group explained that the transaction allows it to focus on expanding its Royal Caribbean International, Celebrity Cruises and Silversea brands. In July 2020, Royal Caribbean purchased the remaining shares of Silversea Cruises after acquiring a two-thirds s
/PRNewswire-HISPANIC PR WIRE/ Royal Caribbean Group (NYSE: RCL) today announced it has entered into a definitive agreement to sell its Azamara brand to.
Big changes in cruising: Royal Caribbean to sell Azamara
Jan 19, 2021
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The ongoing pandemic has caused sea changes throughout the travel industry. Today, Royal Caribbean announced that it had entered a “definitive agreement” to sell its beloved Azamara brand to Sycamore Partners. If you’re not familiar with Sycamore, it’s a private equity firm. The deal, worth $210 million, is expected to close in the first quarter of 2021.