May 2026
On 7 May 2026, Carnival Corporation (NYSE: CCL) and Carnival plc announced the completion of the unification of their dual listed company structure under a single company, Carnival Corporation Ltd., with Carnival plc becoming a UK subsidiary of Carnival Corporation Ltd. In connection with the transaction, Carnival Corporation has redomiciled its jurisdiction of incorporation from Panama to Bermuda.
Conyers acted as special Bermuda legal counsel to Carnival Corporation Ltd. in connection with the dual listed company unification and redomiciliation.
The transaction is expected to deliver a number of strategic benefits to the company and its shareholders, including the creation of a single global share price, streamlined governance and reporting, reduced administrative costs and increased liquidity and weighting in major US stock indexes.
“Carnival’s decision to redomicile to Bermuda reflects the jurisdiction’s continued strength as a leading domicile for globally recognised shipping companies,” said Director Victor Richards. “Bermuda’s sophisticated legal and regulatory framework and established maritime presence continues to make it an attractive jurisdiction for international groups undertaking significant corporate transactions.”
Carnival Corporation Ltd. is the world’s largest global cruise company and among the largest leisure travel companies, with a portfolio of cruise brands including AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises and Seabourn. The company’s common shares trade on the New York Stock Exchange under the symbol “CCL” and are included in the S&P 500.
The Conyers team advising on the transaction was led by Director Victor Richards, along with Counsel Alexis Haynes and Associates Celine Collis and Joshua DeAllie.