Carnival in initial talks to sell Seabourn cruise brand to PIF: report

25/05/2022 Argaam

Logo of Public Investment Fund

Carnival Corporation & plc started preliminary talks to sell its ultra-luxury cruise brand, Seabourn, to the Public Investment Fund (PIF), CNBC reported, citing unnamed sources with knowledge of the matter.

 

Discussions between the two parties are still ongoing and no agreement has been reached on the deal value, the sources added.

 

The Saudi sovereign wealth fund owned 50.8 million shares of Carnival, at a total value of $1.03 billion, by the end of Q1 2022, Argaam earlier reported.

 

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