Sloane, Rubenstein in $2.2B Diamond Resorts Deal
By Editorial Staff
JULY 2016 / O’Dwyer’s
Sloane & Company and Rubenstein Associates are guiding PR through Apollo Global Management’s $2.2B acquisition of vacation destination network Diamond Resorts International.
Publicly traded DRI, based in Las Vegas, owns around 420 resorts in 35 countries and markets many of them through timeshare sales. The company in February hired Centerview Partners to pursue strategic alternatives.
Apollo will take DRI private in the deal at $30.25-per-share, a 26% premium on Diamond shares as of June 28.
The parties said the transaction is expected to close over the next few months.
Sloane managing director Joshua Hochberg and senior VP Erica Bartsch advise Diamond Resorts. Rubenstein senior VP Charles Zehren, a former Bloomberg and Newsday editor, counsels Apollo.