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The sale — which if completed would make Diamond . It will cost $4 billion. . Diamond Resorts offers destinations, events, and experiences to help members make a habit of breaking from the routine. US. Apollo's Black wants to combine Diamond Resorts, which it bought in September 2016, with Hilton Grand so it can cut costs and gain scale, sources said. We are now constrained by sales time . Apollo Global Management's deal to acquire Diamond Resorts for $2.2 billion should remind investors of Apollo's roots -- and Diamond's issues. On August 2, 2021, an acquisition deal was . 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). Diamond Resorts, based in Las Vegas, has a global network of vacation destinations and allows members access to certain events. Diamond Resorts is the largest independent timeshare operator, with 92 resorts worldwide, the companies said. LAS VEGAS-(BUSINESS WIRE)-Diamond Resorts International, Inc. ("Diamond Resorts" or the "Company") (NYSE: DRII) today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with affiliates of certain funds (the "Apollo Funds") managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo . BofA Securities is the exclusive financial adviser for HGV, while Credit Suisse is the lead financial . Hilton Grand Vacations Inc. ("HGV" or the "Company") announced that it has completed the previously announced acquisition of Diamond Resorts International, Inc. ("Diamond") from funds managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, "Apollo"), funds managed by affiliates of Reverence Capital Partners ("Reverence"), and . The merged entity will have 720,000 owners, 154 resorts and 48 sales centers. Feb 5, 2020. Diamond Resorts had been bought by Apollo Global Management for about $2.2 billion in 2016. diamond resorts and apollo newest information, everything today. This article is more than 5 years old. The innovative hotel management company specializes in delivering high quality vacation experiences in tropical beachfront settings throughout the Caribbean and Mexico. Recently, it was announced that Apollo Global Management, LLC successfully completed a merger transaction which permits their affiliates of Apollo Funds to acquire all of the outstanding common stock of Diamond Resorts International, Inc. Affiliates will receive a $30.25 per share cash tender for all outstanding shares of common stock following the merger. 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. At closing, holders of Hilton Grand will own 72% of Diamond and Apollo holders 28%. Mar 30, 2022. Under the terms of the all-cash deal, Apollo will acquire Diamond Resorts for $30.25 per share, representing a premium of 26 percent over its closing share price on Tuesday and a premium of 58 . Designed to provide you comfort without sacrificing convenience, Polo Towers offers a relaxing retreat from the energy of Sin City. If there was a way to give them less than 1 star I would gladly do so. About Diamond Resorts . We believe adhering to our values is integral to our success, allowing us to generate returns for our investors, support great businesses and build an innovative and collaborative culture. Did Wyndham Buy Diamond Resorts? Reporting by Greg Roumeliotis and Liana B. Baker in New York; Additional reporting by Carl O'Donnell in New York; Editing by . Hilton Grand Vacations has completed the previously announced acquisition of Diamond Resorts International, creating the largest upper upscale and luxury timeshare operator in a stock-based . The timeshare resort company has entered into an agreement to be acquired by affiliates of certain funds managed by Apollo Global Management LLC for $2.2 billion. Since then, it has grown into the vacation goliath that you know today. In 2016, Apollo Global Management announced a $2.2 billion deal to acquire Diamond Resorts International. Apollo took Diamond Resorts private in 2016 for $2.2 billion and made a . "David Palmer, CEO of Diamond Resorts, said in a prepared statement, "We have built a solid business focused on operational excellence, hospitality, and customer satisfaction, the . The innovative hotel management company specializes in delivering high quality vacation experiences in tropical beachfront settings throughout the Caribbean and Mexico. LAS VEGAS-(BUSINESS WIRE)-Diamond Resorts International, Inc. (NYSE: DRII) today announced that it has entered into an Agreement and Plan of Merger with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO), pursuant to which the Apollo Funds will acquire Diamond Resorts for $30.25 per share or approximately $2.2 billion. These miserable thieves have abused me . Now $55 (Was $̶1̶1̶9̶) on Tripadvisor: Polo Towers by Diamond Resorts, Las Vegas. #3. kc01075 said: Diamond Resorts claims to have a transition program to eliminate ownership. The merged entity will have 720,000 owners, 154 resorts and 48 sales centers. The acquisition was completed on August 2, 2021. . 1 review. . Apollo took Diamond Resorts private in 2016 for $2.2 billion and made a bid to buy Hilton Grand Vacations three years later for about $40 a share. Following Diamond Resorts purchase by Apollo Global Management in June 2016, Hilton Grand Vacations announced in March 2021 that they were buying Diamond Resorts International from Apollo for $1.4 billion. . Hilton Grand Vacations, with 62 properties, yesterday reached an agreement to acquire Diamond Resorts with 92 leisure resorts. Another suitor in the auction — which could fetch $5 billion including assumption of $2 billion in debt — is Diamond Resorts, owned by Apollo Global Management, the buyout firm controlled by . Hilton Grand Vacations Inc. will acquire Diamond, the largest independent timeshare company, according to a release. Apollo Global Management LLC agreed to buy Diamond Resorts International Inc. for about $2.2 billion . The law firm of Stoddard Warnick & Albright filed a billion dollar lawsuit against Diamond Resorts International January 29, 2017. The Journal reported Diamond shares rose by 24 percent to as much as $29.76 Wednesday morning. Hilton Grand Vacations Inc. is acquiring Diamond Resorts International Inc., the time-share company owned by Apollo Global Management Inc ., in a stock deal with an equity value of about $1.4 . Existing . Existing . Published. The Diamond Fund, managed by affiliates of Apollo Global Management, Inc., has been purchased from Apollo Global Management's affiliate funds. It invests in credit, private equity, and real assets. A $100 million acquisition by Wyndham Destinations took place at the same time it rebranded itself as Travel + Leisure. www.boers.ge. Polo Towers Suites, 3745 Las Vegas Boulevard South, Las Vegas, Nevada, 89109, United States. 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). Since our founding in 1990, we have built a leading global alternative asset management business by staying true to our core principles. At the time, Elliott Management Corp. had built a . Diamond Resorts should be shut down for senior abuse! Currently Diamond Resorts have 92 leisure resorts and nearly 400,000 owners this will complement 62 up market and luxury properties and over 325,000 owners of Hilton Grand Vacations it was announced, meaning the combined timeshare company will have 154 resort properties. Apollo Global Management, Inc. is an American global alternative investment management firm. According to the complaint, which was filed on behalf of lead plaintiffs Ilona and Lester Harding, along . It has been announced this week that Apollo Global Management, the company that bought over Diamond Resorts in the latter part of 2016, will be making the company public. A wide selection of amazing destinations offers affordable luxury, memories, time and time again. ORLANDO, Fla. (Aug. 2, 2021) - Hilton Grand Vacations Inc. (NYSE:HGV) ("HGV" or the "Company") announced today that it has completed the previously announced acquisition of Diamond Resorts International, Inc. ("Diamond") from funds managed by affiliates of Apollo Global Management, Inc. (NYSE:APO . Hilton Grand Vacations (HGV) was part of Hilton until 2019, when it was spun off as a separate entity. Under the terms of the agreement, the Apollo Funds and other Diamond stockholders will receive 34.5 million . A wide selection of amazing destinations offers affordable luxury, memories, time and time again. Hilton Grand Vacations Inc. (HGV) has completed the previously announced acquisition of Diamond Resorts International Inc. from funds managed by affiliates of Apollo Global Management Inc., funds . The Diamond Fund, managed by affiliates of Apollo Global Management, Inc., has been purchased from Apollo Global Management's affiliate funds. Apollo has agreed to offer shareholders of Diamond Resorts $2.2 billion, or $30.25 per share. About Diamond Resorts . Mar 11, 2021 5:51AM EST. For more information about Apollo, please visit www.apollo.com. We are now constrained by sales time . The merger will generate more than $125 million in run-rate cost synergies, expected to be achieved in the first 24 months following close, among other . H ilton Grand Vacations, a global timeshare company, has agreed to buy Diamond Resorts in a stock deal worth $1.4 billion from Apollo Global Management, an . EP. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Private-equity firm Apollo Global Management is preparing to take Diamond Resorts public in the coming months, less than two years after acquiring the timeshare company for $2.2 billion. In March 2021, Apollo Global agreed to sell Diamond Resorts to Hilton Grand Vacations for $1.4 billion. Diamond Resorts was founded by Stephen J. Cloobeck in 2007 when he led a group of investors to buy Sunterra Corporation. diamond resorts and apollo. The companies announced a definitive agreement on Wednesday morning where Apollo will acquire Diamond Resorts for $30.25 per share, for a total value of roughly $2.2 billion. The lawsuit alleges Diamond Resorts ensnared thousands of elderly consumers in its deceptive and fraudulent scheme to sell points-based timeshare memberships.. (Reuters) - Diamond Resorts International Inc DRII.N said it agreed to be bought by private equity firm Apollo Global Management LLC APO.N for about $2.2 billion. ORLANDO, Fla., August 02, 2021 -- ( BUSINESS WIRE )-- Hilton Grand Vacations Inc. (NYSE:HGV) ("HGV" or the "Company") announced today that . Worst business ever! As of December 31, 2020, the company had $455.5 billion of assets under management, including $328.6 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans and collateralized loan obligations, $80.7 billion . Did Wyndham Buy Diamond Resorts? Hilton Grand Vacations Inc. (NYSE: HGV) ("HGV" or the "Company") announced today that it has completed the previously announced acquisition of Diamond Resorts International, Inc. ("Diamond") from funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, "Apollo"), funds managed by affiliates of Reverence Capital . On Wednesday, private equity firm Apollo Global Management announced a $2.2 billion deal to acquire timeshare company Diamond Resorts International, sending . Member Log In - Diamond Resorts. The CFO of Diamond, Jim Mikolaichik, was . Diamond Resorts offers destinations, events, and experiences to help members make a habit of breaking from the routine. In 2016, Apollo Global Management declared a $2.2 billion arrangement to get Diamond Resorts International. The merger will generate more than $125 million in run-rate cost synergies, expected to be achieved in the first 24 months following close, among other . Diamond Resorts is a timeshare company headquartered in Las Vegas, Nevada, with regional offices in Orlando, . Apollo Global's . The Grand Beach resort in Orlando is one of more than 350 Diamond Resort properties across the globe. Now $55 (Was $̶1̶1̶9̶) on Tripadvisor: Polo Towers by Diamond Resorts, Las Vegas. Diamond Resorts, the timeshare company owned by Apollo Global Management Inc., is entering the Manhattan market in a bid to appeal to younger vacationers.Las Vegas-based Diamond signed a deal with . Diamond Resorts offers destinations, events, and experiences to help members make a habit of breaking from the routine. Jun 30, 2016 5:13 PM EDT. See 3,328 traveler reviews, 1,701 candid photos, and great deals for Polo Towers by Diamond Resorts, ranked #60 of 288 hotels in Las Vegas and rated 4 of 5 at Tripadvisor. At the beginning of March, it was announced that Hilton Grand Vacations was to purchase Diamond Resorts International from Apollo Global Management. Since the announcement, shares have jumped from their closing price on June 28 to match the 26% buyout . What Happened Diamond Resorts? A $100 million acquisition by Wyndham Destinations took place at the same time it rebranded itself as Travel + Leisure. Diamond Resorts officially announced on January 18, 2018, that it had changed its name from International to Diamond Resorts after undergoing a brand refresh. Edward Peralta. . Share. LAS VEGAS—In its fourth mega-deal thus far in 2016, Apollo Global Management is taking . Some of the firms note that Diamond Resorts' stock price touched $32.49 in the past year, and some Wall Street analysts have a price target as high as $35 per share on the company. In 2016, Apollo took Diamond Resorts private for about $2.2 billion. "Using Apollo, we've solved the biggest problem for every business, the lead problem. Diamond has said that this merger will create new opportunities and destinations while maintaining the high-level customer service that . Apollo Global is selling Diamond Resorts to Hilton Grand Vacations for $1 in March 2021. This comes less than 2 years after consolidating the purchase of the entity. At Polo Towers, you will find yourself in the center of the world-famous Las Vegas Strip. Visit SUNRISE Diamond Beach Resort in Sharm El Sheikh for an unforgettable Red Sea family vacation full of happiness, peace and comfort. There are very few words to describe Diamond Resorts and the vile people they have working for them. Apollo took Diamond Resorts private in 2016 for $2.2 billion and made a bid to buy Hilton Grand Vacations three years later for about $40 a share. Hilton Grand Vacations Completes Acquisition of Diamond Resorts Apollo's David Sambur and Alex van Hoek join HGV Board August 02, 2021 09:15 AM Eastern Daylight Time It seems like the ideal year for them to buy the organization since this was the same year Diamond Resorts went into a settlement agreement with the State of Arizona . 12844-VCMR) was originally filed by a Diamond Resorts stockholder against former Diamond Resorts directors and Apollo Management VIII, LP. 2 Min Read. The deal is expected to be finalised by the summer of 2021, subject to customary closing conditions and regulatory approvals. Established in 2011, Blue Diamond Resorts has become the Caribbean's fastest growing resort chain, with a 23 property portfolio now exceeding 11,000 rooms in six countries. . "Using Apollo, we've solved the biggest problem for every business, the lead problem. Apollo will pay $30.25 a share, a 26% premium over Diamond's closing share price Tuesday. . www.apollo.com. Apollo had assets under management of approximately $455 billion as of December 31, 2020 in credit, private equity and real assets funds. New York-based private equity firm Apollo Global is set to pay $30.25 per share for Diamond Resorts, a figure that represents a 26 percent premium over the company's closing share price Tuesday. Invited. Hilton Grand Vacations Inc. (HGV) has entered into a definitive agreement to acquire Diamond Resorts International Inc. from funds managed by affiliates of Apollo Global Management Inc., funds . UPDATE: This story has been . Hilton Grand Vacations Inc. will acquire Diamond, the largest independent timeshare company, according to a release. Diamond Resorts offers destinations, events and experiences to help members make a habit of breaking from the routine. 8/2/2021 Lauren George. Apollo's David Sambur and Alex van Hoek join HGV Board. Diamond Resorts International, which has a network of 420 properties in 35 countries, said the all-cash deal with affiliates of Apollo Global Management represents a premium of 26 percent over the . ORLANDO, Fla. (Aug. 2, 2021) - Hilton Grand Vacations Inc. (NYSE:HGV) ("HGV" or the "Company") announced today that it has completed the previously announced acquisition of Diamond Resorts International, Inc. ("Diamond") from funds managed by affiliates of Apollo Global . Established in 2011, Blue Diamond Resorts has become the Caribbean's fastest growing resort chain, with a 23 property portfolio now exceeding 11,000 rooms in six countries. If you're an eligible Diamond Resorts stockholder you should know that a proposed settlement to a class action shareholder lawsuit was filed on Nov. 1, 2019. Apollo could seek a valuation for Diamond Resorts of around $4 billion and aim to raise in excess of $500 million in the offering, though price expectations are moving around, according to people familiar with the process. In June 2016 it was announced that Apollo Global Management had . Hilton Grand Vacations Inc. (HGV) has completed the previously announced acquisition of Diamond Resorts International Inc. from funds managed by affiliates of Apollo Global Management Inc., funds . A very quick turnaround from purchase to trading again in the public markets. By checking this box, I agree that the above information is correct and authorize Diamond Resorts International Marketing, Inc., and/or its affiliates and successors to contact me regarding promotional offers at the above address by mail, cell/telephone number with an automatic telephone dialing system, or e-mail, regardless of any prior election to the contrary.

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