Carnival plc to Simplify Corporate Structure With Sole NYSE Listing; London Delisting Planned

10:18 AM EST, 12/19/2025 (MT Newswires) -- The board of Carnival plc (CCL.L), or Carnival Corp in the US, is proposing a business structure simplification, with a sole listing in New York. Unveiled with its fiscal 2025 report on Friday, the cruise operator said holders of its London-listed shares will receive NYSE-listed shares on a 1-for-1 basis, while American depositary receipts will be delisted from both bourses. The unification and a relevant proposal to change the group's legal incorporation to Bermuda from Panama are expected to be completed in the second quarter of 2026, subject to approvals from shareholders, regulators and the UK court. Carnival's board said the plan will cut administrative costs and increase liquidity, which will allow the delivery of long-term shareholder value. It also clarified that Carnival plc will operate as a UK subsidiary and that its commitment to the British market remains.