PRN: Royal Caribbean Cruises Ltd. Announces Share Repurchase

03/nov/2014 23:08:54 PR Newswire Turismo Contatta l'autore

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Royal Caribbean Cruises Ltd. Announces Share Repurchase

 
[03-November-2014]
 

MIAMI, Nov. 3, 2014 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) announced today that it has agreed to repurchase 3.5 million shares of common stock of the Company held by Awilhelmsen AS (Awilhelmsen). Concurrently, Awilhelmsen announced that it had today sold an additional 3.5 million shares to a financial institution in a market transaction pursuant to Rule 144 of the Securities Act.  The price to be paid by RCL for its shares will equal the price paid by the financial institution to Awilhelmsen.

The last reported sale price of Royal Caribbean Cruises Ltd (RCL) common stock on November 3, 2014 was $68.40 per share.

Following the sale of common stock by Awilhelmsen, and the repurchase of common stock by RCL, Awilhelmsen, together with its affiliates, will beneficially own approximately 16% of RCL's outstanding common stock. The repurchase will be funded from the Company's 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, chairman and chief executive officer.

"This transaction gives Awilhelmsen an opportunity to diversify our investment portfolio while maintaining its significant position as the largest shareholder of RCL," said Sigurd E. Thorvildsen, its chief executive officer.

Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) is a global cruise vacation company that owns Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisieres de France, as well as TUI Cruises through a 50 percent joint venture.  Together, these six brands operate a combined total of 42 ships with an additional 7 under construction contracts.  They operate diverse itineraries around the world that call on approximately 490 destinations on all seven continents. Additional information can be found on www.royalcaribbean.com, www.celebritycruises.com, www.pullmantur.es, www.azamaraclubcruises.com, www.cdfcroisieresdefrance.com or www.rclinvestor.com.

Awilhelmsen is a privately owned investment company located in Oslo, Norway. Awilhelmsen was established in 1939, and was one of three founders of Royal Caribbean Cruises Ltd. in 1968. Awilhelmsen currently has the following business areas: Cruise Vacations, Real Estate, Shipping & Offshore, Retail, and Financial Investments.


Company Codes: NYSE:RCL, Oslo:RCL
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