Italian cruise line Costa Crociere SpA has signed an agreement with Orizonia to acquire full control of the Iberocruceros brand.

Iberocruceros, a joint venture between Costa Crociere Group and Spanish tour operator Orizonia, was established in 2007. Costa Crociere owned 75% of the company while Orizonia had a 25% stake. Costa Crociere is expected to obtain 100% control.

Iberocruceros, headquartered in Madrid, operates three ships with a combined total capacity of approximately 4,500 passengers.

By staff writer