Hilton Grand Vacations $347.4 million secondary offering
The shares are listed on the New York Stock Exchange
Davis Polk advised the representative of the several underwriters in connection with an SEC-registered secondary offering of 8,050,000 shares of common stock of Hilton Grand Vacations Inc. by selling stockholders affiliated with Apollo Global Management, Inc. for approximately $347.4 million in total gross proceeds, including 1,050,000 shares of common stock purchased pursuant to the full exercise of the underwriters’ option to purchase additional shares. The common stock is traded on the New York Stock Exchange under the symbol “HGV.”
HGV is recognized as a leading global timeshare company. With headquarters in Orlando, Florida, HGV develops, markets and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. The company also manages and operates club and exchange programs, including HGV Max, Hilton Grand Vacations Club, Hilton Club, Diamond clubs and Bluegreen Vacation Club, which provide exclusive exchange, leisure travel and reservation services for approximately 725,000 club members.
The Davis Polk capital markets team included partners Michael Kaplan and Marcel Fausten, counsel Arisa Akashi Sin and associates José Miguel Fernández Mejía, Marquis J. Pullen and Gabriela N. Gura. Counsel Loyti Cheng provided environmental advice. Partner Michael Mollerus provided tax advice. Partner Matthew J. Bacal provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.