Sam Boughedda

According to Investing.com, Carnival Corporation (NYSE.) has been reported as having entered into discussions with its Seabourn brand seller.

Seabourn, a Seattle-based cruise company, focuses on small-ship ultra-luxury sailing.

CNBC Global Markets reporter Seema Mody tweets that Carnival has reached out to Saudi sovereign wealth funds to discuss selling Seabourn.

Sources say that Carnival is in talks to sell Seabourn to the Saudi sovereign wealth funds. The talks are ongoing and no agreement has been reached.

Carnival stock fell more than 10% on Tuesday. It has dropped to 41% in 2022, meaning it is back at its pandemic lows.