The Spanish Antitrust Authority has officially authorised Italian cruise company Costa Crociere’s complete acquisition of Spanish cruise brand Iberocruceros.
In 2007 Iberocruceros was created as a 25:75 joint venture between Spanish tour operator Orizonia and Costa Crociere. Costa Crociere has now acquired the remaining 25% stake in Iberocruceros, making it the sole owner of the brand.
The deal was first declared in May 2009 after Costa Crociere and Orizonia signed an agreement. The transaction is expected to be finalised by the end of July following the antitrust authority’s authorisation.
Headquartered in Madrid, Spain, Iberocruceros owns the Grand Celebration, Grand Voyager and the Grand Mistral fleet of ships with a 4,500-guest combined capacity.
Apart from Iberocruceros, Costa Group owns European cruise company Costa Cruises and German cruise company Aida Cruises.