Ashurst has advised Carnival Corporation & plc on the successful unification of its dual-listed company structure, with Carnival Corporation becoming the sole parent of the group and Carnival plc its UK subsidiary. Unification completed on 7 May, with Carnival Corporation now having a sole listing on the New York Stock Exchange, creating a simpler corporate structure and single global share price for the combined company. Carnival Corporation has also moved its legal registration from Panama, where it was previously incorporated, to Bermuda.
Carnival Corporation is the world's largest global cruise company, and among the largest leisure travel companies, with a portfolio of world-class cruise lines including AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises, and Seabourn.
The Ashurst team was led by corporate partners James Fletcher, Will Chalk and Harry Thimont, supported by senior associates Louise Chan, Maria McAlister and Paul Ryan-Brown, and associates Gareth Mair, Emilia Howard and Rachel Edelstyn. London based partner Chris Eberhardt, Frankfurt-based partner Sergej Bräuer and Sydney-based partner Melissa Fraser advised on competition and FDI aspects. Anna Delgado advised on UK debt capital markets aspects.
Ashurst worked closely with Paul Weiss, US counsel to Carnival Corporation, whose team was led by John Kennedy, Luke Jennings, Laura Turano, Cris Amodeo and Sean Winker.
