Royal Caribbean To Divest Azamara Brand To Sycamore Partners For $201 Mln Cash
WASHINGTON (dpa-AFX) - Royal Caribbean Group (RCL) announced Tuesday it has entered into a definitive agreement to sell its Azamara brand to a private equity firm Sycamore Partners in an all-cash carve-out transaction for $201 million, subject to certain adjustments and closing conditions.
Sycamore Partners will acquire the entire Azamara brand, including its three-ship fleet and associated intellectual property. The transaction, subject to customary conditions, is expected to close in the first quarter of 2021.
Royal Caribbean Group noted the transaction allows it to focus on expanding its Royal Caribbean International, Celebrity Cruises and Silversea brands.
By June Knight
Jan 19, 2021
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