MIAMI — Royal Caribbean Group now has full ownership of Silversea Cruises after purchasing the remaining one-third stake in the luxury cruise line.

The move to full ownership started in 2018 when Royal Caribbean Group acquired two-thirds of Silversea in a US$1 billion deal. Silversea’s Manfredi Lefebvre D’Ovidio retained a one-third share and stayed on as Executive Chairman. With this latest development he will serve as chairman of Silversea, while Roberto Martinoli will remain the brand’s president and CEO.

Royal Caribbean Group announced the purchase of the remaining shares today.

“Silversea has been a great fit for our company from the very first day,” said Richard D. Fain, Chairman and CEO of Royal Caribbean Group. “The cultures of the two organizations have proven to be harmonious, and guests have responded favourably to the combination.”

Fain added: “Manfredi and Roberto have brought a fresh point of view to our company, as well as deep knowledge of their brand’s unique audience. Their skills – and Manfredi’s inimitable style – will continue to play an important role in growing Silversea into the future.”

Lefebvre said the combination of two companies “has been everything I hoped for. The skills and resources of Royal Caribbean Group have helped us grow and flourish. We share a vision about the bright future of cruising, and I look forward to being a shareholder in the broader Royal Caribbean Group.”