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Cruise lines merge as P
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Cruise
lines merge as P&O Princess takes control of RCCL |
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2001
Nov. 27: News that P&O Princess Cruises was to take control of
Royal Caribbean Cruises (RCCL) surfaced in mid-November, following a
merger in which P&O will hold 50.7 per cent and RCCL 49.3 per
cent. The new company, with 41 vessels and 75,000 berths would be
the world's largest, they claimed.
In a statement issued to
the London Stock Exchange on November 20, the companies said that in
the last 12 months to September 30 their combined turnover was $5 billion
and they had an aggregate capitalization of around $6 billion as at
November 19. The combined group was expected to achieve annualized savings
of over $100 million.
The combined group will be
renamed when the deal is completed with both companies taking the new
group name.
Fairplay, November 20,
2001.
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