The remaining third stake held by Heritage Cruise Holding Ltd was paid for in the form of 5.2 million shares of Royal Caribbean Group stock, which represents about 2.5% of the total common stock.

Manfredi Lefebvre d’Ovidio will continue to serve as chair of Silversea and Roberto Martinoli will remain the line’s president and chief executive.

Royal Caribbean Group chair and chief executive Richard Fain, said: “Silversea has been a great fit for our company from the very first day. The cultures of the two organisations have proven to be harmonious, and guests have responded favourably to the combination.

“Manfredi and Roberto have brought a fresh point of view to our company, as well as deep knowledge of their brand’s unique audience. “Their skills – and Manfredi’s inimitable style – will continue to play an important role in growing Silversea into the future.”

Lefebvre said: “The combination of our companies has been everything I hoped for. The skills and resources of Royal Caribbean Group have helped us grow and flourish. 

“We share a vision about the bright future of cruising, and I look forward to being a shareholder in the broader Royal Caribbean Group.”

Martinoli added: “Thanks to the incredible resources and skills of Royal Caribbean Group, Silversea will grow and thrive. Today marks another key step in our drive to uncontested leadership in ultra-luxury and expedition cruising.”