BOCA RATON, Fla.--(BUSINESS WIRE)--Bluegreen Vacations Holding Corporation (NYSE: BVH) (OTCQX: BVHBB) (“Bluegreen Vacations” or the “Company”) announced today the completion of the previously announced acquisition of Bluegreen Vacations by Hilton Grand Vacations Inc. (“HGV”) pursuant to the merger agreement entered into by the parties which resulted in Bluegreen Vacations becoming an indirect wholly-owned subsidiary of HGV. The merger was effected, and trading of the Company’s Class A Common Stock on the New York Stock Exchange and the Company’s Class B Common Stock on the OTCQX was suspended, prior to the opening of trading on January 17, 2024.
In accordance with the terms of the merger agreement, each share of the Company’s Class A Common Stock and Class B Common Stock that was outstanding at the effective time of the merger has been canceled and converted into the right to receive the merger consideration of $75.00 in cash, without interest.
Alan B. Levan, Chairman and CEO of Bluegreen Vacations, said, “Today represents an ending as well as a beginning as the combination of Bluegreen Vacations with HGV creates a compelling vacation ownership offering. I am extremely proud of our wonderful management team and all of our associates whose hard work and dedication led us to this momentous achievement; one which comes after the highest sales year in the Company’s history. This transaction is a testament to our highly talented associates who helped build Bluegreen Vacations into a leading vacation ownership company.”
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements of belief, expectations, plans and other statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements involve substantial risks and uncertainties and, as a result, actual results or events could differ materially from those expressed in or implied by the forward-looking statements. Reference is also made to the risks and uncertainties detailed in reports filed by the Company with the SEC, including the “Risk Factors” sections thereof, which may be viewed on the SEC’s website at www.sec.gov and on the Company’s website at www.bvhcorp.com. The Company cautions that the foregoing factors are not exclusive. The Company does not assume any obligation to update the forward-looking statements, including to reflect events that occur or circumstances that exist after the date hereof, except as required by law.
