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Saudi fund in early talks to potentially buy Carnival’s ultra-luxury Seabourn brand


This aerial view shows the Seabourn Encore cruise vessel docked at Bodrum Cruise Port in Mugla, Turkey on April 27, 2022.

Anadolu Agency | Anadolu Agency | Getty Images

CarnivalPeople familiar with the matter said that Seabourn is currently in discussions to sell to the Saudi sovereign wealth funds its ultra-luxury Cruise brand Seabourn.

The talks between the parties remain ongoing. This deal would allow the Saudis to have a greater presence in the cruise market at a time of rising travel demand across the Middle East.

Carnival could also have more capital. The shares of Carnival had lost over 40% the previous three months. Seabourn’s price wasn’t known immediately.

Carnival stated that it will not comment on speculation or rumor. Public Investment Fund is also called the Saudi Saudi Fund. It didn’t respond to our request immediately.

Seabourn talks are underway less than one week after Carnival secured over $1B in debt markets at 10% yield.

Seabourn launched six ships in 1988. They have six ships that travel from Antarctica to Asia and the Middle East to Caribbean.

The Public Investment Fund of Saudi Arabia, also called the Saudi sovereign wealth, bought a share in Carnival in the midst of the pandemic. FactSet reports that it has 5.1% of Carnival’s current stock.

The cruise industry has also seen buyers from private equity companies. Royal Caribbean’s Azamara brand of cruises was sold to Sycamore Partners in March 2021 for $201 million. TPG Group, Apollo Group and Norwegian Cruise Line were both investors in billions. In 2008, Apollo Group took control of the company. cruise operator2013 public. TPG has invested in Viking Cruise at the moment, and Bain Capital is. Virgin Voyage’s main investor.