Bluegreen Vacations Holding To Acquire Outstanding Shares Of Bluegreen Vacations Corp.

(RTTNews) - Bluegreen Vacations Holding Corporation (BVH) said it plans to acquire the approximately 7% of Bluegreen Vacations Corporation (BXG) common stock not currently owned by BVH through a statutory short-form merger. A newly formed subsidiary would merge with and into Bluegreen Vacations Corp., with Bluegreen being the surviving company of the merger and becoming a wholly owned subsidiary of Bluegreen Vacations Holding. Each share of Bluegreen Vacations Corp.'s common stock outstanding at the effective time of the merger, other than shares beneficially owned by BVH, will be converted into the right to receive 0.51 shares of BVH's Class A common stock.

Bluegreen Vacations Holding currently beneficially owns approximately 93% of Bluegreen Vacations Corp.'s common stock. Current Bluegreen Vacations Corp. shareholders who own approximately 7% of Bluegreen are expected to own approximately 2,664,000 shares of BVHs class A common stock, representing 12% of the total outstanding BVH class A and class B common stock.