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4 Firms Build Hilton Vacation Co.'s $1.4B Timeshare Biz Buy
Law360 (March 10, 2021, 3:05 PM EST) -- Hilton Grand Vacations said Wednesday that it inked a $1.4 billion all-stock deal to purchase independent timeshare company Diamond Resorts, which is backed by investors including Apollo Global Management Inc. and Reverence Capital Partners.
Orlando-headquartered Hilton Grand Vacations Inc., or HGV, said in a statement that the purchase of Diamond Resorts International Inc. would create a business with 154 resorts and 720,000 owners. The deal comes as the hospitality and travel industries eye an increase in demand as coronavirus vaccinations roll out across the world.
HGV is working with Alston & Bird LLP, Simpson Thacher & Bartlett LLP and Foley &...