Carnival in talks to cede Seabourn to Saudi sovereign wealth fund PIF
The company has six luxury cruise ships and a further unit under construction
May 25, 2022
The U.S. Carnival Corporation would have started preliminary talks to sell its luxury cruise brand Seabourn to the Saudi sovereign wealth fund Public Investment Fund (PIF). The sale of Seabourn would secure capital in Carnival, whose shares in the past three months have lost more than 40% percent of their value, the CNBC television channel said.
Public Investment Fund has so far been active in the cruise industry only with Cruise Saudi, a company wholly owned by PIF and formed early last year with the aim of developing cruise tourism in Saudi Arabia. In 2020, the Saudi sovereign wealth fund acquired shares of Carnival and currently owns 5.1% percent of the capital of the American group.
Seabourn, which was founded in 1988, has a fleet of six ships, of which two of 42mila tonnes of gross tonnage, the Seabourn Encore and the Seabourn Ovation , built by Italy's Fincantieri, three of 32mila tsl, the Seabourn Odyssey , the Seabourn Quest and the Seabourn Sojourn , built by the Italian T. Mariotti that he made for Seabourn, too. Seabourn Venture of 23mila tsl delivered last year and is building in its own Genova shipyard ever for the American company a twin ship that will be employed on cruises in Antarctica starting next year.
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