Credit Crisis May Change the Deal for Bluegreen Timeshare Resorts
Wednesday, October 22, 2008
According to information released Friday in the South Florida Business Journal, and other sources, the planned acquisition of Bluegreen Resorts and timeshares is on hold. For some time, Bluegreen timeshare resorts and Diamond Resorts have been in negotiation over Diamond Resorts’ bid to buy Bluegreen for $500 million.
The credit crunch seems to be gnawing away at this buyout deal, but whether it chews it up or spits it out may not be known for a few weeks. Bluegreen timeshare has given Diamond Resorts until November 15, with exclusive right of negotiation in Bluegreen’s acquisition. After that date, Bluegreen is free to shop other investors for a better price.
There has been a lot going on at Bluegreen timeshares lately with continued news about the buyout as well as company problems with allegedly improper timeshare sales tactics used in Pennsylvania timeshare sales. But none of what is going on takes away from the satisfaction many Bluegreen timeshare owners feel about their vacation ownership properties. Bluegreen has been a respected brand in the timeshare industry for many years, with thousands of timeshare buyers and renters enjoying quality vacations at Bluegreen resorts.
Read more Bluegreen timeshare news from The Timeshare Authority: