Carnival Corporation Acquires Remaining 50 Percent Of Costa Crociere
MIAMI, Sept. 29 /PRNewswire/ -- Carnival Corporation (NYSE: CCL), the world's largest cruise operator, has concluded its previously announced transaction to acquire the outstanding 50 percent interest in Genoa, Italy- based Costa Crociere from Airtours plc, a British-based travel supplier.
The cost of the Costa transaction will be 350 million Pound Sterling.
"The purchase of the remaining 50 percent of Costa will allow Carnival Corporation to aggressively expand the operations of Costa, which is Carnival's primary platform for growing our cruise business in the European market," said Micky Arison, Carnival Corporation chairman and CEO.
Costa Crociere has an international fleet of seven ships that span the globe offering cruises of seven nights and longer throughout the Mediterranean, Northern Europe, South America, and Caribbean. Earlier this summer, Costa launched the 86,000-ton CostaAtlantica, which has earned scores of accolades from the European travel community for its innovative design concepts, impressive art collection, and exquisite dining opportunities. In August, Costa contracted for a sister vessel slated to debut in summer 2003.
Carnival Corporation is comprised of Carnival Cruise Lines, the world's largest cruise line based on passengers carried, Holland America Line, Windstar Cruises, Cunard Line Limited, which operates the Cunard and Seabourn cruise brands, Costa Crociere and interest in Airtours plc. Combined, Carnival Corporation's various brands operate 48 ships in the Caribbean, Alaska, Europe, and other worldwide destinations.
Additional information can be obtained via Carnival Corporation's Web site at www.carnivalcorp.com or Costa Crociere's at www.costacruises.com. SOURCE Carnival Corporation
CONTACT: Tim Gallagher of Carnival Corporation, 305-599-2600, ext. 16000/