Four Firms Guide Apollo’s Time-Share Sale to Hilton Grand

Simpson Thacher & Bartlett, Alston & Bird, and Foley & Lardner are advising Hilton Grand Vacations Inc. on its acquisition of Diamond Resorts International Inc., the time-share company owned by private equity firm Apollo Global Management Inc.

Paul, Weiss is advising Diamond Resorts on the stock-based deal with an equity value of about $1.4 billion. The transaction is expected to close in the summer, according to a statement.

Under the deal’s terms, Hilton Grand Vacations shareholders will own about 72% of the combined company, while Apollo-affiliated Funds and other Diamond stockholders—including funds managed by affiliates of Reverence Capital Partners—will own ...