Hilton Grand Vacations To Acquire Diamond Resorts - Quick Facts

(RTTNews) - Hilton Grand Vacations Inc. (HGV) has entered into an agreement to acquire Diamond Resorts International, Inc. in a stock-based deal with an equity value of approximately $1.4 billion. The Apollo Funds and other Diamond stockholders will receive 34.5 million shares of Hilton Grand common stock. Existing Hilton Grand shareholders will own approximately 72% of the combined company and the Apollo Funds will own approximately 28% of the combined company.

The deal generates over $125 million in run-rate cost synergies, expected to be achieved in the first 24 months following close. The combined company will have 720,000 owners, 154 resorts and 48 sales centers.