The operation amounts to 4.7 billion dollars (3.89 billion euros).
Marriott Vacations Worldwide acquires Interval Leisure Group for nearly $4.7 billion in cash and stock. The company wants to expand into holiday clubs, especially in Mexico and the Caribbean.
ILG has over 40 properties and nearly 250,000 owners in its Vistana Signature Experiences and Hyatt Vacation Ownership portfolios. The combined company will comprise approximately 650,000 owners and seven exclusive and luxury brands.
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"This transaction will combine two of the premier global vacation ownership companies to create a more diversified company with significantly enhanced marketing potential and scale to drive sales growth and value for both MVW and ILG shareholders," said Stephen P. Weisz, President and Chief Executive Officer of Marriott Vacations Worldwide.
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