Interval Leisure, CLC Complete $89M European Resort JV Deal

Law360, New York (November 4, 2013, 6:15 PM EST) -- Florida-based Interval Leisure Group has sealed up an approximately £56 million ($89.4 million) joint venture and merger deal with a unit of CLC World Resorts & Hotels to nab stakes in CLC's European timeshare management services business, the companies announced Monday.

Per the deal, ILG and CLC formed a joint venture dubbed VRI Europe Ltd, which then took over CLC's European timeshare business for $89.4 million, according to investor documents. ILG will hold a 75.5 percent stake in the new joint venture, which will manage shared...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.