Royal Caribbean Cruises Ltd. Announces The Completion Of Accelerated Share Repurchase
MIAMI, Nov. 24, 2015 /PRNewswire/ -- Royal Caribbean Cruises Ltd. today announced that it has completed the $200 million accelerated share repurchase program announced on October 23, 2015. Under the terms of the program, the company repurchased a total of 2,103,288 shares of common stock at a price per share of $95.0892.
The repurchase price was determined based on the average of the daily volume-weighted average prices of the stock during the term of the transaction, less a discount.
The ASR transaction was executed as part of an authorization by the company's Board of Directors to repurchase up to $500 million of common stock. With the completion of the transaction $300 million remains under the share repurchase authorization. The company expects to complete the program by year-end 2016.
Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) is a global cruise vacation company that owns Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisières de France, as well as TUI Cruises through a 50 percent joint venture. Together, these six brands operate a combined total of 44 ships with an additional eleven on order. They operate diverse itineraries around the world that call on approximately 480 destinations on all seven continents. Additional information can be found on www.royalcaribbean.com, www.celebritycruises.com, www.pullmantur.es, www.azamaraclubcruises.com, www.cdfcroisieresdefrance.com, www.tuicruises.com or www.rclinvestor.com.
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