Shareholders from Interval Leisure Group (ILG) agreed to a $1.5 Billion Dollar acquisition of Vistana from Starwood.
We are pleased by the overwhelming support our stockholders expressed for this transaction,” Craig M. Nash, chairman, president, and CEO of ILG said in a statement. “Their strong endorsement reaffirms our belief that this acquisition is in the best long-term interests of our company and our stockholders. We look forward to the closing and to successfully integrating these two industry-leading businesses.
The sale of Vistana Signature was announced in October 2015, the Merger has already cleared Anti-trust in the US and Mexico. Under the agreement ILG will acquire then merge into Vistana Signature Experiences. Vistana Currently manages 22 Timeshare Resorts with approximately 222,000 Timeshare Owners