According to CNBC, Royal Caribbean is nearing a $3 billion deal to buy a 50% equity stake in Sandals, valuing the Caribbean resort chain at $6 billion. A person familiar with the matter said the talks are ongoing and may not result in a deal, and that the transaction was expected to support growth for both companies. Royal Caribbean shares fell about 6% on the news, which was first reported by the Financial Times. The stock is down roughly 25% over the past year after the company cut its revenue growth forecast on softer demand for European sailings. Royal Caribbean has been seeking to diversify beyond cruises and expand its vacation offerings, while Sandals and its Beaches brand operate more than a dozen properties across the Caribbean.