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Bluegreen Vacations Holding Corporation Announces Completion of Merger

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Bluegreen Vacations Holding Corporation (BVH) announced the completion of its acquisition by Hilton Grand Vacations Inc. (HGV), resulting in Bluegreen Vacations becoming an indirect wholly-owned subsidiary of HGV. The merger resulted in the cancellation of BVH's Class A and Class B Common Stock, with shareholders receiving $75.00 in cash per share. Alan B. Levan, Chairman and CEO of Bluegreen Vacations, expressed pride in the management team and associates for achieving the merger, following the highest sales year in the Company's history.
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The acquisition of Bluegreen Vacations by Hilton Grand Vacations represents a significant consolidation within the vacation ownership industry. From a market research perspective, this move may indicate a strategic effort by HGV to expand its market share and diversify its portfolio in the highly competitive hospitality sector. The merger consideration of $75.00 in cash per share represents a tangible premium to shareholders, which could be seen as a positive indicator of HGV's valuation of Bluegreen's assets and market position. It's crucial to monitor customer retention and brand integration strategies post-acquisition to assess the long-term success of this consolidation.

Financially, the suspension of trading for Bluegreen Vacations' stocks aligns with standard procedure following an acquisition. Investors should note the liquidity event, as shareholders receive a cash payout for their shares. This could impact the stock market by reallocating investments as shareholders look for new opportunities. The acquisition follows Bluegreen Vacations' highest sales year, which may have enhanced its attractiveness as an acquisition target. The immediate financial implications for HGV include the cost of acquisition and the integration process, which should be weighed against the potential revenue and cost synergies. Long-term, the success of the acquisition will be measured by the ability to leverage Bluegreen's assets to generate increased shareholder value for HGV.

The merger between Bluegreen Vacations and Hilton Grand Vacations could create a more robust vacation ownership offering, potentially leading to enhanced customer experiences and an expanded customer base. The integration of Bluegreen's properties and services with HGV's existing offerings may result in operational efficiencies and a broader range of options for consumers. However, the integration process can be complex, involving the alignment of corporate cultures, systems and customer service standards. Successful execution will be key to realizing the potential benefits of the merger, such as increased market presence and improved economies of scale.

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.

ir@bvhcorp.com

Source: Bluegreen Vacations Holding Corporation

FAQ

What is the ticker symbol for Bluegreen Vacations Holding Corporation?

The ticker symbol for Bluegreen Vacations Holding Corporation is BVH.

What was the merger agreement between Bluegreen Vacations and Hilton Grand Vacations Inc.?

The merger agreement resulted in Bluegreen Vacations becoming an indirect wholly-owned subsidiary of HGV.

What was the merger consideration for Bluegreen Vacations' shareholders?

Each share of Bluegreen Vacations' Class A and Class B Common Stock was converted into the right to receive $75.00 in cash, without interest.

Who is the Chairman and CEO of Bluegreen Vacations Holding Corporation?

Alan B. Levan is the Chairman and CEO of Bluegreen Vacations Holding Corporation.

Bluegreen Vacations Holding Corporation

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About BVH

bbx capital (nyse: bbx) is involved in the acquisition, ownership, management, joint ventures and investments in real estate and real estate development projects, as well as acquisitions, investments and management of middle market operating businesses. in addition, bbx capital and its holding company, bfc financial corporation (otcqb: bfcf), have a 46% and 54% respective ownership interest in bluegreen corporation. as a result of their ownership interests, bbx and bfc own 100% of bluegreen. bluegreen manages, markets and sells the bluegreen vacation club, a flexible, points-based, deeded vacation ownership plan with more than 180,000 owners, over 60 owned or managed resorts, and access to more than 4,000 resorts worldwide. throughout our history, we have invested in and acquired businesses in financial services, retail brokerage and investment banking, timeshare, real estate, confections, and other sectors.