Fried Frank acted as counsel to Goldman Sachs as financial advisor to ILG (Nasdaq: ILG), in its US$4.7 billion acquisition by Marriott Vacations Worldwide (NYSE: VAC). Under the terms of the agreement, ILG shareholders will receive US$14.75 in cash and 0.165 shares of Marriott Vacations Worldwide common stock for each ILG share for an equity value of approximately US$4.7 billion. ILG is a leading provider of premier vacation experiences with over 40 properties and over 250,000 owners in its Vistana Signature Experiences and Hyatt Vacation Ownership portfolios, as well as exchange networks that comprise nearly two million members and over 3,200 resorts worldwide. As a combined entity, Marriott Vacations Worldwide and ILG will be a leader in the vacation experiences industry with significant scale, an expanded presence in key leisure destinations, the largest portfolio of upper-upscale and luxury brands in the industry, and world-class exchange networks. The transaction, which is expected to close in the second half of 2018, is subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by shareholders of both companies.
The Fried Frank team was led by corporate partners Philip Richter and Warren S. de Wied and included corporate associate Jake Saifman.