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Diamond Resorts International Inc Announces Acquisition Of All Of Equity Interests In Island One Companies-Form 8-K


Monday, 8 Jul 2013 06:09am EDT 

Diamond Resorts International Inc reported in its Form 8-K that it has entered into a transaction agreement with Island One, Inc. and Crescent One, LLC (together, the Island One Companies) and Timeshare Acquisitions, LLC, the existing owner of the Island One Companies (the Island One Equityholder), pursuant to which the Company is to acquire all of the equity interests in the Island One Companies. The Island One Companies operated a vacation ownership, hospitality and resort management business that emerged from Chapter 11 bankruptcy in July 2011. Pursuant to the terms of the Transaction Agreement, the purchase price for the Island One Companies is based upon a formula derived from, among other things, adjusted EBITDA for the Island One Companies for the year ended December 31, 2012, and a multiple derived from such factors as the Company‚Äôs valuation (based upon the applicable Triggering-Event) and the consolidated adjusted EBITDA of Diamond Resorts Parent, LLC and its subsidiaries for the 12-month period ended March 31, 2013. 

Company Quote

23.26
-0.09 -0.39%
23 Jul 2014