Investing.com — Carnival Corporation (NYSE:CCL) is in discussions to sell its Seabourn brand, it was reported Tuesday.
Seabourn is a cruise line headquartered in Seattle, Washington, and focuses on “small-ship, ultra-luxury cruising.”
According to a tweet from CNBC Global Markets Reporter Seema Mody, citing sources, Carnival is in talks to sell Seabourn to the Saudi sovereign wealth fund.
“Carnival in discussions to sell Seabourn brand to the Saudi sovereign wealth fund, per sources. Talks are still ongoing, no deal finalized as of yet.”
Carnival stock is down more than 10% Tuesday. In 2022 it has fallen over 41%, moving back towards its pandemic lows.