Interval Leisure Group To Acquire Vistana From Starwood

(RTTNews) - Interval Leisure Group (IILG) and Starwood Hotels and Resorts Worldwide, Inc. (HOT) announced that the Boards of both companies have unanimously approved a definitive agreement under which a wholly owned subsidiary of ILG will acquire and then merge with and into Vistana Signature Experiences. The combination has a total value to Starwood of approximately $1.5 billion.

The combination will result in Starwood shareholders owning approximately 55% of the combined company on a fully diluted basis, with existing shareholders of ILG owning approximately 45% of the combined company.

Vistana is a leading developer marketer and manager of 22 high-end vacation ownership resorts with more than 220,000 owners and a world-class team of more than 5,000 associates.