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

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.

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.

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