Royal Caribbean co-founder AWilhelmsen has sold over $300m worth of shares in the cruiseship giant.

Awilhelmsen offloaded 3.6 million shares to a financial institution, lowering its stake to 14%, a statement says.

Sigurd Thorvildsen, chief executive of Awilhelmsen, explained the sale of shares enables Awilhelmsen to complete a transaction with its owning families, while remaining the largest shareholder of RCL.

Attempts to reach Thorvildsen for further comment were unsuccessful at the time of writing.

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