By Will Feuer
Hilton Grand Vacations has agreed to buy Bluegreen Vacations for $1.5 billion, including debt, combining two major timeshare companies as the industry grapples with rising interest rates.
Bluegreen shareholders will receive $75 a share in cash.
Boca Raton, Fla.-based Bluegreen sells vacation-ownership interests at various resorts across Orlando, Fla., Panama City Beach, Las Vegas, the Smoky Mountains, Charleston and more. The company has more than 200,000 customers.
The companies expect the deal to close in the first half of 2024.
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