Princess/Carnival deal could be sealed in March
The Board of P&O Princess has recommended to its shareholders that they vote in favour of the deal with Carnival.
The Princess Board said the strengths of the two cruise companies operating as a combined group would include leading brands in North America, South America, the UK, continental Europe and Australasia, and a high quality young fleet, including 65 cruise ships and an additional 18 cruise ships on order to be delivered over the next three and a half years.
Princess chairman, Lord Sterling of Plaistow, said: “We have today signed an agreement with Carnival to implement the DLC transaction. We are recommending that shareholders approve the DLC transaction with Carnival at an EGM expected to be convened towards the end of March”.
Princess and Carnival carried a combined total of around 4.7 million passengers in the year ended 30 November 2002. The two cruise companies are awaiting the outcome of a second inquiry being carried out by the European Commission into the proposed deal.
Read our previous stories:
07-Jan-2003 Princess bid the subject of second inquiry
03-Dec-2002 Princess a step closer to Carnival deal
25-Oct-2002 Royal Caribbean loses Princess deal
07-Oct-2002 Princess opens talks with Carnival
20-Aug-2002 Princess acquires Renaissance ships
25-July-2002 Profits up at P&O Princess
25-July-2002 Royal Caribbean ‘disappointed’ by EC ruling
23-July-2002 EC set to approve Carnival bid for P&O Princess
18-Feb-2002 Carnival delight at P&O Princess vote delay
12-Feb-2002 Carnival piles pressure on P&O Princess
25-Jan-2002 Carnival gets personal in P&O Princess fight
22-Jan-2002: P&O Princess rejects improved Carnival offer
18-Jan-2002 Carnival increases bid for P&O Princess
15-Jan-2002 Carnival refuses to give up fight for P&O Princess
17-Dec-2001 P&O Princess rejects Carnival offer
20-Nov-2001 P&O Princess and Royal Caribbean Cruises to merge
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