Jul
06
Apollo Funds Engaged to Buy Diamond Resorts
ByApollo Global Management is set to acquire the resort company for a whopping $2.2 billion.
David Palmer, Diamond Resorts
New York—Four months after establishing a committee to explore strategic alternatives to maximize shareholder value, Diamond Resorts International Inc. has found an alternative, and it’s a good one. 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.
“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 result of which has been stellar financial results and strong cash generation. This transaction is an excellent outcome for our shareholders.”…
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