The Saudi sovereign wealth fund, also known as the Public Investment Fund, previously purchased a 5.1% stake in Carnival in 2020, according to FactSet.

Carnival Corporation first made an investment in Seabourn in 1991 before acquiring 50% of the company in 1996. It then acquired the remainder of Seabourn in 2001. Seabourn currently operates a fleet of five ships, with a sixth vessel, Seabourn Venture, debuting later this year. A seventh ship, Seabourn Pursuit, is currently under construction and is scheduled to debut in 2023.

The news comes a week after Carnival Corp. priced a private debt offering of US$1 billion in senior unsecured notes at an interest rate of 10.5%.

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