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Apollo Completes Sale of Diamond Resorts to Hilton in $1.4 Billion Deal
- Client News
- August 2, 2021
Paul, Weiss advised funds managed by affiliates of Apollo Global Management, Inc. in the $1.4 billion stock sale of time-share company Diamond Resorts International, Inc. to Hilton Grand Vacations Inc. (HGV). Under the terms of the transaction, the Apollo funds and other Diamond stockholders, including Reverence Capital Partners, will receive 33.9 million shares of HGV common stock. Existing HGV shareholders will own approximately 71.65% of the combined company, with the Apollo funds and the other former Diamond stockholders, including Reverence Capital Partners, owning the rest.
The Paul, Weiss team included, among others, M&A partner Brian Scrivani and counsel Siu Yan Lin; financing partners Gregory Ezring, Brian Kim, Robert Zochowski and Brad Finkelstein, and counsel Mikhel Schecter and Gabriella Toossi; investment funds partner Matthew Goldstein; tax partner Brad Okun; intellectual property partner Claudine Meredith-Goujon; executive compensation partner Lawrence Witdorchic and counsel Uri Horowitz and Nicole Tark; litigation partner Lewis Clayton and counsel Paul Paterson; and real estate partner Peter Fisch.