Bluegreen Vacations Holding Corporation intends to acquire the remaining 7.2% stake of Bluegreen Vacations Corporation for $47.8 million.
BVH expects to effect the merger following the effectiveness of BVH's Registration Statement on Form S-4 to be filed with the SEC with respect to the shares of BVH's Class A Common Stock to be issued in the merger and the approval of the listing of those shares on the New York Stock Exchange. As the transaction will take effect as short-form merger, accordingly, the Board of Directors of Bluegreen has not acted to approve or disapprove the merger, and the shareholders of Bluegreen will not be asked to approve or disapprove the merger or be furnished a proxy in connection with voting on the merger. The merger is not subject to any financing condition or shareholder approval. The transaction is expected to be completed in the second quarter of 2021. As of May 3, 2021, Bluegreen Vacations Holding Corporation announces that it expects the merger with Bluegreen Vacations Corporation to be effected on May 5, 2021. There is potential value accretion of BVH to BXG valuation anticipated.