July 19 (Reuters) – Hilton Grand Vacations Inc.

• Hilton Grand Vacations and Blackstone form joint venture to purchase Elara, one of the world’s largest timeshare resorts
• Hilton Grand Vacations Inc – acquisition expected to be accretive in 2017 to total adjusted EBITDA and EPS
• Hilton Grand Vacations Inc – deal for approximately $40 million
• Hilton Grand Vacations Inc – transaction is expected to be funded by existing cash on hgv’s balance sheet
• Hilton Grand Vacations – in addition to ownership stake, HGV will continue to market, sell and manage elara under existing fee-for-service agreements

Source: Reuters