Fairfield to Buy Resort Firm for $190 Million
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Fairfield Communities Inc., which operates resorts in 11 states, said it will acquire a Florida-based resort operator, Vacation Break U.S.A. Inc., for $190.2 million in stock.
Fairfield would issue 0.6075 shares of common stock for each share of Vacation Break’s shares outstanding.
Little Rock, Ark.-based Fairfield said the planned acquisition reflects its interest in expanding its resort holdings in South Florida, where Vacation Break operates the Sea Gardens Beach & Tennis Resort, the Fairways of Palm Aire and Royal Vista resort.
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