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It's Official: Carnival & P&O Are Done Deal

April 16, 2003
Today in London P&O Princess shareholders voted to approve a merger with Carnival Corporation. This vote, the last step in the long process to join the two cruise companies, was by no means a surprise and, indeed, was overwhelmingly in support, with some 99.7 percent cast in favor.

The combined P&O Princess - Carnival now is the world's largest cruise vacation group with 13 different cruise brands under its umbrella. Among these include Carnival Cruise Lines and Princess, along with P&O Cruises, Holland America, Costa, Cunard, Seabourn, Windstar, Aida, Swan Hellenic, and P&O Australia. All together, the new company's cruise lines consist of 66 ships -- 17 more are on order and, in the last year measured, carried 4.7 million passengers.

Carnival Corp.'s Micky Arison becomes chairman and chief executive of the combined companies. Share trading on the London Stock Exchange in Carnival plc shares begins on Tuesday, April 22 under ticker symbol CCL. New York Stock Exchange trading continues under the ticker symbol CUK.

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