FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) today announced that
it has made a determination not to proceed with its previously announced
merger which would have taken Bluegreen Vacations Corporation (NYSE:
BXG) private. BBX Capital will continue to hold its approximately 90%
interest in Bluegreen Vacations.
About BBX Capital Corporation: BBX
Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) is a Florida-based
diversified holding company whose principal investments include
Bluegreen Vacations Corporation (NYSE: BXG), BBX Capital Real Estate,
Renin Holdings, and IT’SUGAR. For additional information, please visit www.BBXCapital.com.
About Bluegreen Vacations Corporation:
Bluegreen Vacations Corporation (NYSE: BXG) is a leading vacation
ownership company that markets and sells vacation ownership interests
(VOIs) and manages resorts in top leisure and urban destinations. The
Bluegreen Vacation Club is a flexible, points-based, deeded vacation
ownership plan with approximately 217,000 owners, 69 Club and Club
Associate Resorts and access to more than 11,000 other hotels and
resorts through partnerships and exchange networks as of March 31, 2019.
Bluegreen Vacations also offers a portfolio of comprehensive, fee-based
resort management, financial, and sales and marketing services, to or on
behalf of third parties. Bluegreen is approximately 90% owned by BBX
Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), a diversified holding
company. For further information, visit www.BluegreenVacations.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, are
forward-looking statements. Forward-looking statements are
subject to a number of risks and uncertainties, and actual results,
performance, or achievements could differ materially from those
contemplated, expressed, or implied by the forward-looking statements.
These risks and uncertainties include those relating to BBX Capital’s
ownership interest in Bluegreen, and the risks and uncertainties
regarding the businesses, operations and trading markets of BBX Capital
and Bluegreen which are detailed in reports filed by BBX Capital and
Bluegreen with the Securities and Exchange Commission (the “SEC”),
including the “Risk Factors” sections thereof, and may be viewed on the
SEC’s website at www.sec.gov.
The reader should not place undue reliance on any forward-looking
statement, which speaks only as of the date made. BBX Capital does not
undertake to, and specifically disclaims any obligation to, update or
supplement any forward-looking statement, whether as a result of changes
in circumstances, new information, subsequent events or otherwise,
except as may be required by law.
BBX Capital Corporation Contact:
Relations: Leo Hinkley, Managing Director, Investor Relations
954-940-5300, Email: [email protected]