Hilton Grand Vacations’s $$995.6 Million Secondary Offering


Davis Polk advised the representatives of the several underwriters in connection with the $995.6 million secondary offering of 22.25 million shares of common stock of Hilton Grand Vacations Inc. by a selling stockholder affiliated with HNA Tourism Group Co., Ltd.

BofA Merrill Lynch, J.P. Morgan, UBS Investment Bank, Goldman Sachs & Co. LLC, Deutsche Bank Securities, Credit Suisse and SunTrust Robinson Humphrey acted as underwriters in the offering.

The common stock is traded on the New York Stock Exchange under the symbol “HGV.”

HGV is recognized as a leading global timeshare company. With headquarters in Orlando, Florida, HGV develops, markets and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. The company also manages and operates two innovative club membership programs: Hilton Grand Vacations Club and The Hilton Club, providing exclusive exchange, leisure travel and reservation services for more than 285,000 club members.

The Davis Polk corporate team included partner Michael Kaplan (Picture) and associates Milson C. Yu, Angela Park and Ben A. Sherwood. Counsel Loyti Cheng and associate Yuko Masunaga provided environmental advice. Partner Rachel D. Kleinberg and associate Catherine L. Chu provided tax advice.

Involved fees earner: Michael Kaplan – Davis Polk & Wardwell; Milson C. Yu – Davis Polk & Wardwell; Angela Park – Davis Polk & Wardwell; Ben Sherwood – Davis Polk & Wardwell; Loyti Cheng – Davis Polk & Wardwell; Yuko Masunaga – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Catherine Chu – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Merrill Lynch; Credit Suisse; Deutsche Bank Securities; Goldman, Sachs & Co.; JP Morgan; UBS Investment Bank; SunTrust Robinson Humphrey, Inc.;

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Author: Ambrogio Visconti