October 29, 2015
Weil is advising Interval Leisure Group in its agreement with Starwood Hotels and Resorts Worldwide, Inc. under which a wholly owned subsidiary of Interval Leisure Group will acquire and then merge with and into Vistana Signature Experiences. The combination, which will follow completion of the planned spin-off of Vistana from Starwood announced on February 10, 2015, has a total value to Starwood of approximately $1.5 billion. The deal is subject to customary closing conditions.
Interval Leisure Group is a global provider of non-traditional lodging, encompassing a portfolio of leisure businesses from exchange and vacation rental to vacation ownership. Vistana is a 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. As a result of the proposed merger, the combined company will have a more diverse portfolio and a strengthened position as a leader in the vacation ownership industry with a portfolio of approximately 200 managed resorts encompassing over 500,000 owners.
The Weil team was led by M&A partner Michael Lubowitz and included Real Estate partners Nellie Camerik and Samuel Zylberberg; Environmental head Annemargaret Connolly; Tax partner Mark Hoenig; Executive Compensation & Benefits head Paul Wessel; Securities Litigation co-head Joseph Allerhand; Complex Commercial Litigation partner Robert Berezin; International Arbitration & Trade partner Ted Posner; Real Estate counsel Elliot Ganchrow; Environmental counsel Matthew Morton; Antitrust counsel Vadim Brusser; Litigation counsel Adam Safwat; Employment Litigation counsel Lawrence Baer; Regulatory counsel John O'Loughlin; Capital Markets counsel Barbra Broudy; M&A associates Renee Pristas, Sean Devaney, Michelle Sargent and Robert Cohen (not yet admitted); Technology & IP Transactions associate Adrian Perry; Tax associate Scott Fryman; Executive Compensation & Benefits associates Steven Einhorn and Franny Glick (not yet admitted); Securities Litigation associate Andrew Blumberg (not yet admitted); and Employment Litigation associate Kiira Johal.