Foley & Lardner LLP served as lead timeshare counsel to Hilton Grand Vacations Inc. (“HGV”) in its definitive agreement to acquire Bluegreen Vacations, a leading vacation ownership company, for $75 per share in an all-cash transaction, representing a total consideration of approximately $1.5 billion, inclusive of net debt.
The transaction will increase HGV’s membership base from 525,000 to more than 740,000 and its resort portfolio from 150 to nearly 200 properties in 14 geographies and eight new states. The acquisition is also expected to expand and diversify HGV’s lead flow through Bluegreen Vacations’ partnerships, including a 10-year exclusive marketing agreement with Bass Pro Shops.
HGV is a leading global timeshare company and the exclusive vacation ownership partner of Hilton. With headquarters in Orlando, Florida, HGV develops, markets, and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations.
The Foley team representing HGV was led by partner William Guthrie and included partners Daniel Bachrach, Matthew Jassak, of counsel Richard Caron, and special counsel Jennifer Hayes.
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