Royal Caribbean (RCL) Sells Interest in Island Cruises to First Choice Holidays Ltd
Royal Caribbean Cruises Ltd. (NYSE: RCL) has agreed to sell its 50% interest in Island Cruises to First Choice Holidays Ltd., the other 50% owner in the joint venture and a subsidiary of British-based tour operator TUI Travel PLC (TUI). As part of the transaction, RCL and TUI agreed to an early termination of the charter of Island Star, one of two ships in the Island Cruises fleet. RCL is the owner of Island Star and had chartered it to Island Cruises.
Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Cruises and CDF Croisieres de France.[SM]
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