On October 23, 2000, P&O Princess
Cruises demerged from Peninsular &
Oriental Steam Navigation Company (P&O),
to become an independently traded
company. Then, on April 17, 2003 the
Miami-based Carnival Corporation merged
with P&O Princess Cruises at US$5.4
billion, to form Carnival Corporation &
plc as the world's largest cruise
company. Besides Princess Cruises,
Carnival owns 11 other brands.