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Carnival plans Carnival plc share sale/Carnival Corp. stock buyback

Carnival Corp. and a wholly owned investment subsidiary plan to sell up to 26.9m existing Carnival plc ordinary shares they hold in the UK market, from time to time in 'at the market' transactions.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

February 1, 2016

1 Min Read
Credit: Seatrade Cruise News

According to a filing, these will occur at times when the Carnival Corp. common stock is trading at a discount to Carnival plc shares.

Carnival Corp. & plc intends to use the net proceeds of the Carnival plc share sales to buy back Carnival Corp. common stock on at least an equivalent basis in the US market and to use the remaining net proceeds, if any, for general corporate purposes.

The filing said Carnival Corp. & plc only intends to trade where it will derive an economic benefit from the Carnival plc share sales and Carnival Corp. stock swap repurchase program.

About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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