Royal Caribbean $RCL is down 6% as it nears a deal to buy a majority stake in Sandals Resorts at a valuation above $6B, according to the FT.
The acquisition would be the largest in Royal Caribbean’s history and expand it deeper into land-based vacations across Sandals’ 20 Caribbean resorts.
ROYAL CARIBBEAN NEARS $6B+ DEAL FOR SANDALS RESORTS - FT
$RCL is nearing a deal to acquire a majority stake in Sandals Resorts International, valuing the company at more than $6 billion.
The deal would be the largest acquisition in Royal Caribbean’s history and give it control of Sandals’ 20 Caribbean resorts, expanding the cruise operator further into land-based vacations.
Some members of the Stewart family are expected to retain equity, while Royal Caribbean could eventually take full control.
Source: FT